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| |
|
COLLEGE SAVING PLANS - Sec. 529 |
|
State |
Open to |
Contribution |
State Tax Reduction |
Comments |
|
|
Non Res |
Min |
Max |
Single |
Couple |
|
|
AK |
Yes |
$ 250 |
$ 250,000 |
N/A |
|
|
AL |
Yes |
250 |
269,000 |
No Deduction |
|
|
AZ |
Yes |
500 |
187,000 |
No Deduction |
|
|
CA |
Yes |
25 |
174,648 |
No Deduction |
|
|
CO |
Yes |
25 |
235,000 |
Full amount of contribution |
|
|
CT |
Yes |
25 |
235,000 |
No Deduction |
|
|
DC |
Yes |
100 |
260,000 |
3,000 |
6,000 |
State deduction is Per Beneficiary |
|
DE |
Yes |
500 |
250,000 |
No Deduction |
|
|
FL |
Yes |
25 |
283,000 |
N/A |
|
|
GA |
Yes |
25 |
235,000 |
2000 |
|
Per Beneficiary State Deduction |
|
HI |
Yes |
15 |
253,000 |
No Deduction |
|
|
IA |
Yes |
50 |
239,000 |
2,180 |
|
Per Year State Deduction |
|
ID |
Yes |
25 |
235,000 |
4,000 |
|
|
|
IL |
Yes |
25 |
235,000 |
Full amount of contribution |
Great for mitigating State Taxes |
|
IN |
Yes |
50 |
236,750 |
No Deduction |
|
|
KS |
Yes |
500 |
235,000 |
2,000 |
4,000 |
Min. contribution is $2,500 for NR |
|
KY |
Yes |
25 |
235,000 |
No Deduction |
|
|
LA |
Yes |
25 |
283,000 |
N/A |
|
|
MA |
Yes |
1,000 |
250,000 |
No Deduction |
|
|
MD |
Yes |
250 |
250,000 |
2,500 |
|
State deduction is Per Beneficiary |
|
ME |
Yes |
250 |
235,000 |
No Deduction |
|
|
MI |
Yes |
25 |
235,000 |
5,000 |
10,000 |
|
|
MN |
Yes |
25 |
235,000 |
No Deduction |
|
|
MN |
Yes |
25 |
235,000 |
No Deduction |
|
|
MO |
Yes |
25 |
235,000 |
8,000 |
16,000 |
|
|
MS |
Yes |
25 |
235,000 |
10,000 |
20,000 |
Great for mitigating State Taxes |
|
MT |
Yes |
250 |
177,000 |
3,000 |
6,000 |
|
|
NC |
Yes |
5 |
268,804 |
No Deduction |
|
|
ND |
Yes |
25 |
269,000 |
No Deduction |
|
|
NE |
Yes |
300 |
250,000 |
1,000 |
|
|
|
NE |
Yes |
300 |
250,000 |
1,000 |
|
Per Beneficiary State Deduction |
|
NH |
Yes |
1,000 |
233,240 |
N/A |
|
|
NJ |
No |
25 |
185,000 |
No Deduction |
|
|
NM |
Yes |
250 |
251,000 |
Full amount of contribution |
|
|
NV |
Yes |
50 |
250,000 |
N/A |
Very Low Penalties, great plan |
|
NY |
Yes |
1,000 |
100,000 |
5,000 |
10,000 |
|
|
OH |
Yes |
15 |
229,000 |
2,000 |
|
|
|
OR |
Yes |
250 |
250,000 |
2,000 |
|
|
|
PA |
Yes |
50 |
290,000 |
No Deduction |
|
|
SC |
Yes |
250 |
250,000 |
Full amount of contribution |
|
|
SD |
Yes |
250 |
305,000 |
N/A |
Highest Contribution, NR Min is $1,000 |
|
TN |
Yes |
25 |
235,000 |
No Deduction |
|
|
TX |
Yes |
25 |
257,460 |
N/A |
|
|
UT |
Yes |
300 |
175,000 |
1,410 |
2,820 |
High Penalties |
|
VA |
Yes |
25 |
100,000 |
2,000 |
|
|
|
VT |
No |
25 |
240,100 |
No Deduction |
|
|
WA |
No |
42 |
21,000 |
N/A |
|
|
WI |
Yes |
250 |
246,000 |
3,000 |
|
Per Child State Deduction |
|
WV |
| |
