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Children's Promise Act Tax Credit

There is Still Time to Reduce Your 2022 State Tax Liability, and Businesses Can Get a Jump Start On Reducing 2023 State Tax Liability

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 $1,000 filing jointly ($500 singly).

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

IMPORTANT!  2022 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 for eligibility:

  1. Download and submit the MSDOR application for tax allocation. Within 30 days of receipt, MSDOR will send notification of allocation.
  2. Give a donation to The Baptist Children’s Village. Gift must be received within 60 days of receipt of MSDOR notification of allocation.
  3. Send donation verification to the MSDOR (BCV receipt letter). Verification must be received within 60 days of receipt of notification of allocation.
  4. Ask your tax professional about the new 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

Your Gift

  • Serves over 400 children and families every year in all 82 counties
    • Serves children ages 1-20 on 7 residential campuses located throughout Mississippi
    • Serves at-risk children and families in 33 counties through our non-residential program
  • The Baptist Children’s Village is 100% privately funded so every donation matters
  • The Baptist Children’s Village has been serving Mississippi children since 1897
 

FAQs

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

Either. If you mail your application first, you will receive notification of approval within 30 days and must make your donation within 60 days of receiving approval.

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 $500 ($1,000 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.