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.
Watch a Step by Step Instruction Video
Reduce 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.
For Individuals:
The state of Mississippi offers a dollar-for-dollar tax credit to individuals for donations made to eligible Qualified Foster Care Charitable Organizations (QFCCO) and Eligible Transitional Home Organizations (ETHO). The BCV qualifies as a QFCCO and an ETHO.
An individual is allowed a tax credit of up to $3,000 filing jointly ($1,500 filing single) in a QFCCO. An individual is allowed a tax credit of up to 50 percent of what they owe the state of MS through the ETHO. It’s your choice!
Step by Step Watch Step by Step Video
For Businesses:
Credits Available for Contributions to Eligible Transitional Housing Organizations (ETHO)
Who can Apply for an Allocation of Credit: Business Taxpayers (Corporations, Partnerships, Limited Liability Companies, and Sole Proprietorships), married couples, and single individuals.
Tax Credit: Businesses, married couples, and single individuals can receive a dollar for dollar reduction in their MS state income taxes, Insurance Premium taxes, Insurance Premium Retaliation tax or ad valorem tax. The amount of the reduction is up to ½ of your tax bill.
Carry Forward: If you do not use the tax credit in one year, you do not lose it. You can take the credit over the next five (5) years immediately following your gift.
Other Limitations: Contributions cannot be used for other state charitable credits and cannot be used as a deduction for state income tax purposes
Step by Step Watch Step by Step Video
IMPORTANT! 2024 tax credit allocations for businesses are going fast. Please contact the BCV to learn if a business tax credit is still available.
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.
Receive a tax credit while changing lives!
Important: Always talk to your tax advisor before making any decisions regarding your tax liability. Please let your tax advisor know you are interested in taking advantage of the tax credit allowed by the Children’s Promise Act Eligible Transitional Home Organization Act §27-7-22.39 of the Mississippi Code Annotated.
