SB3110

Mississippi SB3110 authorizes tax credits for voluntary cash contributions to rural hospitals.

Mississippi SB3110 allows taxpayers to claim a credit against their income tax or ad valorem taxes on real property for voluntary cash contributions to rural hospitals. The credit is limited to the lesser of the contribution amount or 50% of the taxpayer's total tax liability for income tax and 75% for ad valorem taxes. A rural hospital is defined as one with 50 or fewer licensed beds or a general acute care hospital with 200 or fewer licensed beds in a rural county. The maximum aggregate amount of credits that can be allocated in a calendar year is $15,000,000.