Children Promise Act

Dear Cardinal Family,

I want to make you aware of an opportunity where a business can make a donation to St. Richard School and receive a dollar-for-dollar tax credit toward their 2021 corporate state tax liability. Please note: This program is available to Partnerships, LLCs, S-Corporations and self-employed individuals.

During the 2019 regular session, the Mississippi Legislature passed HB 1613 “The Children’s Promise Act”. This legislation gives businesses the opportunity to make donations to eligible institutions and receive a dollar-for-dollar tax credit on their corporate state taxes. St. Richard Catholic School qualifies as an eligible institution.

We would like to thank GranthamPoole, PLLC for participating on our behalf for the 2020 tax year and encourage your business to utilize this tax opportunity in support of St. Richard School for the 2021 tax year.

Attached is an application to participate, and you can click the following link for more information on HB 1613. http://billstatus.ls.state.ms.us/documents/2019/html/HB/1600-1699/HB1613PS.htm

It takes 3 easy steps: 

  • Complete the Application for Allocation of Contributions Made to Qualifying Charitable Organizations (attached); submit to MS Dept. of Revenue (MSDOR)

  • Once you receive an allocation from MSDOR, simply make a donation to St. Richard School to receive a tax credit.

  • Send verification of the contribution to MSDOR at contributiontaxcredit@dor.ms.gov. Verification must be received within 60 days of receipt of notification of allocation or before December 31st.


Thank you in advance for your consideration of St. Richard Catholic School in your tax planning. If you have any questions about “The Children’s Promise Act” and how to take part, please contact your tax professional.

 

Sincerely,

 
Jennifer David
Principal