MS SB2841

Creates tax credits for business enterprises (corporations, LLCs, partnerships, sole proprietorships) making voluntary cash contributions to 501(c)(3) organizations that support Mississippi youth through education, physical development, social/emotional development, and workforce development programs

Credits apply against state income taxes, insurance premium taxes, and ad valorem taxes on real property, with each credit limited to 50% of the taxpayer's total liability for that tax type

Unused credits may be carried forward for five consecutive years; contributions claimed as credits cannot also be used as state income tax deductions

Total aggregate tax credits allocated statewide are capped at $250,000 per calendar year

Eligible charitable organizations must submit written certification to the Department of Revenue verifying 501(c)(3) status and committing to use funds exclusively for qualifying youth programs; the department will maintain a public list of approved organizations