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State Tax Breaks for 529 Contributions Midvale UT
Many states require you to contribute to an in-state plan, but some states allow you to contribute to any state's plan and still receive the tax deduction. Be sure to check the regulations for your state before selecting a plan.
Western Governors University
(801) 274-3280
(801) 274-3280
4001 East 700 South, Suite 701
Salt Lake City, UT
Salt Lake City, UT
University of Phoenix - Utah Campus
(800) 224-2844
(800) 224-2844
5373 S. Green Street
Salt Lake City, UT
Salt Lake City, UT
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State Tax Breaks for 529 Contributions
State Tax Breaks for 529 Contributions
Looking for a way to shave your tax bill? Nearly every state in the union that has a state income tax now offers a tax deduction if you're contributing to a 529 plan.
Many states require you to contribute to an in-state plan, but some states allow you to contribute to any state's plan and still receive the tax deduction. Be sure to check the regulations for your state before selecting a plan. Here's a quick look at some of the most current tax breaks in place:
| State | 529 Deduction |
| Alabama | Beginning in 2008, up to $5,000 per year |
| Alaska | N/A - No state income tax |
| Arizona | Beginning in 2008, $750 for single filers / $1,500 for joint (any state plan) |
| Arkansas | Up to $5,000 for single filers / $10,000 for joint |
| California | None |
| Colorado | Fully deductible up to contributor's adjusted gross income |
| Connecticut | Up to $5,000 for single filers / $10,000 for joint |
| Delaware | None |
| District of Columbia | Up to $4,000 per contributor per year |
| Florida | N/A - No state income tax |
| Georgia | Up to $2,000 per beneficiary per tax return |
| Hawaii | None |
| Idaho | Up to $4,000 per contributor per year |
| Illinois | Up to $10,000 for single filers / $20,000 for joint filers |
| Indiana | 20% tax credit up to $5,000 in contributions per individual tax return per year (maximum yearly credit is $1,000) |
| Iowa | ...
Author: Amy Ambler
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