MS SB2166

Allows taxpayers to claim an income tax credit equal to the amount of voluntary contributions made to the Mississippi Tuition Assistance Program or similar programs providing financial assistance to students at Mississippi community colleges and state-supported institutions of higher learning

Limits the tax credit to the amount of taxes due to the State of Mississippi and restricts claims to the year the contribution is made, with no refunds or carryforwards allowed for excess credits

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

Effective January 1, 2012