84-401: Tax Credit Summary Schedule (2025)
Mississippi · Mississippi DOR · Used for tax years 2025
Mississippi Form 84-401 is a tax credit summary schedule for franchise and income tax credits. It reports credits earned, received from pass-through entities, carried over from prior years, used, expired or allocated, and available to carry over to next year.
What you'll need
The 2025 schedule asks for your FEIN and these amounts for each tax credit:
- Credit earned this year.
- Credit received from a pass-through entity.
- Credit carryover from the prior year.
- Credit used this year.
- Credit expired or allocated this year.
- Credit carryover available for next year.
Attach a statement for the Historic Structure Rehabilitation credit. If you select credit code 36, 39, 42, 43, or 45, enter the charitable organization's name on line 5 and attach a statement if needed.
Common mistakes
- Do not skip the charitable organization's name on line 5 if you select code 36, 39, 42, 43, or 45. Attach a statement if needed.
- Remember to attach a statement for the Historic Structure Rehabilitation credit.
- If you take more than three income tax credits, follow the form's direction to see the instructions in Form 84-100.
- On line 3, include the total income tax credit from column E used by and passed through to all partners.
Questions people ask
Which credits belong in Part I?
Part I is for franchise tax credits with codes 16, 19, 50, and 60. Part II is for income tax credits.
How do I calculate the credit carryover available for next year?
The form gives this formula for column G: B + C + D − E − F. Add credit earned this year, credit received from a pass-through entity, and prior-year carryover. Then subtract credit used this year and credit expired or allocated this year.
Where do the franchise tax credit totals go?
Enter the total of column E on line 1 and on Form 84-105, page 1, line 3. Enter the total of column G on line 2 as the franchise tax credit available for next year.
Where do the income tax credit totals go?
On line 3, enter the total credit from column E used by and passed through to all partners. Composite and electing pass-through entities also enter that total on Form 84-105, page 1, line 7. Enter the total of column G on line 4 as the income tax credit available for next year.