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Pregnancy Resource Act
The Pregnancy Resource Act gives businesses the opportunity to receive credit for up to 50% of their expected annual MS tax liability, which includes their income tax, insurance premium, and al valorem tax on real property, by donating to a MS Pregnancy Care Center. In the event that the credit is higher than 50% of the tax liability for the approved year, it can carry over for five years.
For instance, if your business's MS tax liability will be $ 3,000 for 2022, you can donate $1,500
to PROMISS and the balance you will owe to the Mississippi Department of Revenue in 2023
will be $ 1,500. However, there is a limited amount of credits available each year on a first come first serve basis. So...
Please Act Today.
Download application, and return the signed document to contactpromiss@gmail.com. When you receive approval from the Mississippi Department Of Revenue, call us at 228-297-6477 and we will complete the process from there to insure you get your credit.
Or if you wish to complete the full steps instead, follow the below instructions.
1. Download and return completed application to MSDOR at contributiontaxcredit@dor.ms.gov.
2. Within 30 days of receipt, MSDOR will notify you of the approved allocation.
3. Donate to PROMISS the amount approved and email PROMISS's receipt of donation to MSDOR within 60 days of approval. PLEASE NOTE: If you do not make the donation and send the receipt to MSDOR within the 60 days, the approved credit Will Not be applied to your account.
The Mississippi Department of Revenue will allocate credits within a calendar year.
The Pregnancy Resource Act allows for allocations each calendar year beginning January 1, and ending December 31. This information is not intended to give tax advice.
Please consult with your tax professional about your specific tax questions.
For more information, visit https://www.dor.ms.gov/business/eligible-charitable-organizations-childrens-promise-act
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