MS HB852

Authorizes tax credits against income, premium, and retaliatory taxes for voluntary cash contributions by businesses to eligible 501(c)(3) organizations that purchase and deliver food to food pantries and soup kitchens in more than five Mississippi counties monthly.

Allows non-corporate business entities to claim credits against ad valorem taxes on real property for contributions to eligible charitable organizations.

Limits annual credit utilization to 50% of total tax liability for each tax type, with unused credits carrying forward for five consecutive years.

Caps total tax credits allocated statewide at $3,500,000 per calendar year, with the Department of Revenue reviewing applications and certifying eligible organizations.

Prohibits taxpayers from deducting contributions used for tax credit claims for state income tax purposes and requires contributions be made within 60 days of credit allocation.