Giving » Children's Promise Act

Children's Promise Act

The Children’s Promise Act

Redirect your Mississippi State taxes to support Catholic education at Annunciation Catholic School.

 

What is the Children’s Promise Act?

The Children’s Promise Act, passed during Mississippi's 2018 legislative session, lets businesses earn a dollar-for-dollar tax credit on up to 50% of their state taxes by donating to qualified Education Services Charitable Organizations (ESCO). 

 

St. Mary’s Annunciation Catholic School is a qualified ESCO, meaning your business can directly support our students at no additional cost to you while earning a state tax credit.

 

How it Works

Each year, the State of Mississippi sets a funding cap for this program.

  • 2026 statewide cap: $9 million
  • Maximum for each school: 4.5% of that total ($405,000)

Because the program operates on a first-come, first-served basis, the statewide cap is typically reached within minutes of the New Year.

 

Who Can Participate?

  • Who can Apply for an Allocation of Credit: Business Taxpayers (Corporations, Partnerships, Limited Liability Companies, and Sole Proprietorships)
  • Tax-Types that Credit can be used against: Income Tax (50% of tax liability), Insurance Premium Tax (50% of tax liability), Insurance Premium Retaliatory Tax (50% of tax liability), Ad Valorem Tax (for entities not operating as a corporation, 50% of real property tax liability)
  • Carry Forward: 5 years
  • Other Limitations: Contribution cannot be used for other state charitable credits and cannot be used as a deduction for state income tax purposes

 

Application Process

  1. Submit the application form online at 8:00 am on January 2, 2026 through the Mississippi Department of Revenue. 
  2. Wait for Approval. The Department will issue an approval or denial letter during January.
  3. Make your donation. Once approved, you have 60 days to contribute to St. Mary’s Annunciation Catholic School.
  4. Submit verification of your contribution to the Department of Revenue.
  5. Receive your tax credit. The amount of your donation (up to 50% of your liability) is credited directly to your Mississippi taxes. 

If the contribution is not made within 60 days, the allocation is canceled and re-released for other applicants. 

 

If your business would like to participate, or if you’d like assistance with the application process, please contact our Director of Development, Whitney Ferguson at dev@annunciationcatholicschool.org.

 

*The information on this page is for general purposes only and is not tax advice. Please consult your tax professional for guidance on your specific situation.