MS SB2339

Authorizes a tax credit equal to the amount of voluntary contributions made by taxpayers to the Mississippi Tuition Assistance Program or similar programs providing financial assistance to students at Mississippi community colleges or state-supported institutions of higher learning

Limits the tax credit to the amount of taxes due to the State of Mississippi and restricts the credit to the taxable year in which the contribution is made

Prohibits excess credits that exceed tax liability from being refunded or carried forward to subsequent taxable years

Prevents taxpayers from claiming both this tax credit and a deduction under Section 27-7-17 for the same contribution amount

Effective January 1, 2011