Questions & Answers

What are MPACT contributions?

MPACT (Mississippi Prepaid Affordable College Tuition Program) costs are money paid to the Mississippi Treasury Department on behalf of a student beneficiary. You can subtract any amounts contributed to an MPACT contract from your Mississippi income.

Contributions must be made on or before the deadline for making contributions to an IRA under federal law (by the due date of the return, not including extensions).

Note: Starting in tax year 2018, qualified education expenses for purposes of 529 plans are no longer limited to higher education but will also include elementary and secondary public, private, home school or religious school expenses up to $10,000 per year.

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