PRCO Tax Credit for Businesses

Did you know that you can help save lives by redirecting up to 50% of your tax dollars to PROMISS and get a dollar-for-dollar credit from the state?

It’s true! A Mississippi law passed in 2022 and increased in 2023 allows businesses to give as much as 50% of their state tax liability to a pregnancy resource charitable organization (PRCO) like PROMISS and receive a Tax Credit – not just a deduction!

This means that… Mississippi allows you to pay would-be tax dollars directly to a pregnancy center instead of the State. It’s money you already owe, so your bottom line won’t change!

Let’s say you owe $10,000 in taxes – you could choose to pay the state of Mississippi $10,000 or you could choose to allocate up to $5,000 to a PRCO, like PROMISS! 

The state will give you full credit. It cost nothing to give!

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What are the Steps to Participate?

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     Follow these steps participate: 

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1. Visit MSDOR at                                to apply. Click “Application for Allocations." 

2. For "Type of Application Credit," use the drop menu to select "PRCO." Enter the tax year and select "Business." 

3. Enter your tax payer information and mailing address. 

4. Use Drop Down Menu to select "Pregnancy Resources of Mississippi (dba PROMISS). 

5. Enter your contribution amount and date and "Submit" 

6. They will respond with eligibility by mail within 30 days of receiving your application.

7. Donate to PROMISS from the qualified business account within 60 days of receiving MSDOR’s letter. There’s no obligation to donate before MSDOR qualifies your gift.

8. Upload your donation receipt to MSDOR within the same 60 days to secure your credit allocation.

 

What are the Benefits?

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• It allows businesses to invest in the lifesaving work of pregnancy centers that serve women in crisis situations

• Credit for up to 50% of the business’ income tax liability, insurance premium tax liability, and real property ad valorem liability

• Dollar-for-dollar tax credit per year for the amount given to a PRCO

• Charitable budget doesn’t change

• Credit can carry over for 5 years

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What Businesses Qualify?

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• Businesses with a Mississippi income tax liability who are engaged in commercial, industrial, or professional activities that operate as a corporation, LLC, partnership or sole-proprietorship.

• Space is limited and only $10 million is available per year. Availability is on a first-come, first-served basis, so secure yours today.

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