New Mississippi Tax Credit for Donors Who are Business Owners

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Since independent school giving is vital to fulfilling Restoration Ministries Christian Academy's mission, we are always looking for ways to assist our kind donors in their investment in Restoration Ministries Christian Academy. The state of Mississippi has made a unique tax credit available to donors of Education Service Charitable Organizations (ESCO) like Restoration Ministries Christian Academy. The Mississippi income tax credit is available for business enterprises engaged in commercial, industrial, or professional activities operating as a corporation, limited liability company, partnership, or sole proprietorship in Mississippi. the amount of the dollar -for-dollar tax credit that may be utilized in a table year shall be limited to an amount not to exceed fifty percent (50%) of the total tax liability of the business enterprise for the taxes imposed by such sections of law. Restoration Ministries Christian Academy is also limited to receiving $450,000 in gifts through this opportunity.

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The state will accept applications via email beginning at midnight January 1, 2022, and time stamp them in order of receipt as the funds available are first come first serve. For more information, see this link.

 

Any funds directed to Restoration Ministries Christian Academy should list "Restoration Ministries Christian Academy" and the organization type is "ESCO". You will find our school listed on the MS Department of Revenue's website as an Education Service Charitable Organization (ESCO).

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If you are considering a new gift to Restoration Ministries Christian Academy and you would like to discuss this more, please contact Vivian Jenkin at mjenkins@cfaith.com  and/or your tax advisor.