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The Mississippi Department of Revenue made a few changes to its tax laws for the 2018 tax year. The tax calculation was adjusted and the self-employment tax deduction increased.
Additionally, Mississippi added two new credits and two new deductions to taxable income. The Charitable Conribution Credit and the Foster Care Charitable Credit can now be claimed for donations to specific qualifying organizations. Contributions made to a first-time home buyers savings account are now deductible, as well as compensation received by an agricultural disaster program.
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