Local Businesses able to claim tax credit for donation to food banks

A bill passed this year by the state legislation allows Mississippi businesses to claim tax credit when they donate to a food bank charitable organization, which distributes food to local food pantries.

This bill went into effect July 1st and the last day to make a donation that will be eligible for this tax credit is December 31st.

Coastal Mississippi’s local FBCO is Feeding the Gulf Coast, and for every 10 dollars donated, the organization can provide 50 meals to South Mississippians.

The tax credit can be used on up to 50% of owed income tax, insurance premium tax and retaliatory tax, and ad valorem tax.

By donating, you will also be helping House Bill 1723 become a permanent tax credit in Mississippi.

“I think the more traction we can demonstrate that there is for this and the desire to support this, it certainly will help make our case that continuing efforts like this will be welcomed, used, and make a real difference,” said President and CEO of Feeding the Gulf Coast Michael Ledger. “By taking advantage of this, and that win-win opportunity, we’re going to be able to source more food. Get more food into those counties. And try to sustain this increased rate of support we’ve been offering for the past several years.”

For more information on donating as a business, you can click here.