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a few highlights about

MISSISSIPPI’S CHILDREN’S PROMISE ACT TAX CREDIT

for Businesses

Canopy is an Eligible Charitable Organization (ECO) and an Eligible Home Organization (ETHO). By supporting Canopy, you may now be able to receive tax credits for up to 100% of your state tax liability

 

All of your tax dollars to the

State of Mississippi

Up to 50%

Of your tax dollars to

Through the ECO Tax Credit

Up to 50%

Of your tax dollars to

Through the ETHO Tax Credit


TAX CREDITS ARE LIMITED AND WILL GO QUICKLY AT 8 A.M. ON TUESDAY, JANUARY 2, 2024.
CANOPY IS READY TO ASSIST WITH THE TIMELY SUBMISSION OF YOUR ALLOCATION REQUEST.

Information for ECO TAX CREDITS:

Who can Apply for an Allocation of Credit: Business Taxpayers (Corporations, Partnerships, Limited Liability Companies, and Sole Proprietorships)

Tax-Types that Credit can be used against: Income Tax (50% of tax liability), Insurance Premium Tax (50% of tax liability), Insurance Premium Retaliatory Tax (50% of tax liability), Ad Valorem Tax (for entities not operating as a corporation, 50% of real property tax liability)

Carry Forward: 5 years

Other Limitations: Contribution cannot be used for other state charitable credits and cannot be used as a deduction for state income tax purposes

Information for ETHO TAX CREDITS:

Who can Apply for an Allocation of Credit: Business Taxpayers (Corporations, Partnerships, Limited Liability Companies, and Sole Proprietorships)

Tax-Types that Credit can be used against: Income Tax (50% of tax liability), Insurance Premium Tax (50% of tax liability), Insurance Premium Retaliatory Tax (50% of tax liability), Ad Valorem Tax (for entities not operating as a corporation, 50% of real property tax liability)

Carry Forward: 5 years

Other Limitations: Contribution cannot be used for other state charitable credits and cannot be used as a deduction for state income tax purposes

This information is not intended to give tax advice. Consult a tax professional regarding your specific tax situation.

To learn about eligibility and more, click here.

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