MS SB2280

Adds a new deduction under Mississippi income tax law for parents who send their dependent children to private school or homeschool programs in Mississippi.

Deduction amount is $1,000 per dependent child per taxable year for whom education expenditures were made.

Eligible education expenditures include tuition, fees, computer software, textbooks, school supplies, and other materials used for academic instruction or tutoring.

Applies to taxable years beginning after December 31, 2013, and requires taxpayers to claim the deduction on their annual state tax return as prescribed by the Department of Revenue.

Husband and wife filers are limited to one deduction per year regardless of the number of dependent children.