MS SB2628

Allows individual taxpayers a state income tax deduction of $5,000 per dependent child for education expenditures at qualified private schools or homeschool programs in Mississippi, effective for tax years beginning after December 31, 2014.

Defines "education expenditure" to include tuition, fees, computer software, textbooks, workbooks, curricula, school supplies (excluding personal computers), and written materials used for academic instruction or tutoring.

Limits eligibility to dependent children who are eligible for free elementary or high school education in Mississippi public schools, qualify as dependents under federal tax code, and are natural/adopted children or court-appointed dependents of the taxpayer.

Specifies that "qualified private school education program" includes homeschooling or attendance at a private school that satisfies compulsory attendance requirements, but excludes instructional services in a home setting for children enrolled in public or charter schools.

Married couples filing jointly receive only one deduction regardless of the number of dependent children; deduction must be claimed on annual state tax return as prescribed by the Department of Revenue.