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Children's Promise Act Tax Credit

IMPORTANT NEWS! Beginning January 1, 2024, all tax credit applications must be submitted online.  There will be no more "paper" applications.  Follow this link to complete the online application to apply for a Charitable Contribution Credit.  

Please email Tim McWilliams at tmcwilliams@bcvms.com or call him at 601.952.2422 for more information.  

 

Get a Jump Start on Reducing Your 2024 State Tax Liability: Designate a portion of what you owe the state of MS to The Baptist Children's Village.

Make a donation to Mississippi or a donation to the BCV

The Children's Promise Act tax credit, passed by the legislature and signed by the governor in 2019, provides a dollar-for-dollar tax credit for donations to The BCV. 

An individual is allowed a tax credit of up to $3,000 filing jointly ($ 1,500 singly).

A business is allowed a tax credit for up to 50 percent of its tax liability.

IMPORTANT!  2024 tax credit allocations for businesses are going fast.  Please contact the BCV to learn if a business tax credit is still available.

 

Receive a tax credit while changing Lives

Receive a dollar for dollar MS state tax credit

 

Act Now!

There is a limited amount of tax credit money available each calendar year, so act quickly to receive your tax credit.

Give all your tax liability to the State of Mississippi or a portion to the BCV.

To qualify as an individual:

  1. Click this link: You can access the application by clicking the "Apply for a Charitable Contribution Credit" link under the Apply Online Section.  
  2. 2.  Once you submit your online application, the MS Department of Revenue will send you an acceptance letter within five to 10 days and assign you an allocation number.
  3. When you receive your acceptance letter, you may send your check to The Baptist Children's Village. 
  4. Once you receive your BCV receipt/acknowledgement letter, send it along with a copy of your The MS DOR acceptance letter to the MS DOR.

For businesses: 

To qualify as a business, please contact Tim McWilliams, Director of Partner Ministries, at 601.952.2422.  

Please email Tim McWilliams at tmcwilliams@bcvms.com or call him at 601.952.2422 with any questions about the process or how your gift will be utilized. 

 

Ask your tax professional about the dollar-for-dollar Children's Promise Act tax credit.  This information is not intended to give tax advice.  Consult your tax professional regarding your specific tax situation.

 

 

FAQs

Do I mail my MSDOR application before or after I make my donation?

Either.  You can send the BCV a donation and then go to the MS DOR website https://tap.dor.ms.gov/_/#1 and complete the application.  Within five to 10 days the MS DOR will send you an Allocation Number and a Letter ID number.  You will need this Letter ID number to upload your BCV receipt letter from your donation at Upload Requested Documentation https://tap.dor.ms.gov/_/#1

If you make your donation and send in your BCV receipt with the application, you will receive notification of approval within 30 days.

In either case, after you receive your BCV receipt for your donation mail your receipt and your application to MSDOR

How much tax credit am I allowed?

A business can receive a dollar-for-dollar tax credit for up to 50% of its tax liability for the given year.

An individual is allowed a $1,500 ($3,000 for a couple) dollar-for-dollar tax credit since The BCV is a designated Qualified Foster Care Charitable Organization (QFCCO).

Have more questions?

Please email Tim McWilliams at tmcwilliams@bcvms.com or call him at 601-952-2422 with any questions about how your gift will be utilized or about the process.