Any interest, dividends or gains accruing on the payments made pursuant to a prepaid tuition contract under the terms of this article shall be excluded from the gross income of any such payor or beneficiary for purposes of the Mississippi Income Tax Law. The payor may deduct from taxable income the amount of any payments made under a prepaid tuition contract in the tax year.
Structure Mississippi Code
Chapter 155 - College Savings Plans of Mississippi
Article 1 - Mississippi Prepaid Affordable College Tuition (MPACT) Program
§ 37-155-3. Declaration of policy
§ 37-155-9. Powers of the board of directors
§ 37-155-13. Dormitory residence plan
§ 37-155-17. Prepaid tuition contracts; tax exclusions and deductions
§ 37-155-19. Duties of the board
§ 37-155-23. No promise or guarantee of admission