529 plan tax benefits by state

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Maximum annual state income tax benefit

Hover over each state to view the tax benefit per state.

(I) Individual, (J) Joint

(I) Individual, (J) Joint

State Tax Benefit K-12 tuition as a 529 qualified expense
1 ALABAMA other $5,000 (I), $10,000 (J) Alabama $5,000 (I), $10,000 (J) Yes
2 ALASKA tax-neutral This state offers no tax deduction for 529 plan contributions Alaska This state offers no tax deduction for 529 plan contributions Yes
3 ARIZONA tax-parity $2,000 (I), $4,000 (J) Arizona $2,000 (I), $4,000 (J) Pending
4 ARKANSAS other $5,000 (I), $10,000 (J) Arkansas $5,000 (I), $10,000 (J) Yes
5 CALIFORNIA tax-neutral This state offers no tax deduction for 529 plan contributions California This state offers no tax deduction for 529 plan contributions No
6 COLORADO other Full contribution amount, to the extent of the contributor's Colorado taxable income Colorado Full contribution amount, to the extent of the contributor's Colorado taxable income Pending
7 CONNECTICUT other $5,000 (I), $10,000 (J) Connecticut $5,000 (I), $10,000 (J) Pending
8 DELAWARE tax-neutral This state offers no tax deduction for 529 plan contributions Delaware This state offers no tax deduction for 529 plan contributions Yes
9 DISTRICT OF COLUMBIA other $4,000 (I), $8,000 (J) District of Columbia $4,000 (I), $8,000 (J) Yes
10 FLORIDA tax-neutral This state offers no tax deduction for 529 plan contributions Florida This state offers no tax deduction for 529 plan contributions Yes
11 GEORGIA other $2,000 (I), $4,000 (J) Georgia $2,000 (I), $4,000 (J) Yes
12 HAWAII tax-neutral This state offers no tax deduction for 529 plan contributions Hawaii This state offers no tax deduction for 529 plan contributions No
13 IDAHO other $4,000 (I), $8,000 (J) Idaho $4,000 (I), $8,000 (J) Yes
14 ILLINOIS other $10,000 (I), $20,000 (J) Illinois $10,000 (I), $20,000 (J) Pending
15 INDIANA other 20% tax credit on contributions up to $5,000; maximum yearly credit is $1,000 Indiana 20% tax credit on contributions up to $5,000; maximum yearly credit is $1,000 Yes
16 IOWA other $3,239 (I), $6,478 (J) Iowa $3,239 (I), $6,478 (J) Yes
17 KANSAS tax-parity $3,000 (I), $6,000 (J) Kansas $3,000 (I), $6,000 (J) Yes
18 KENTUCKY tax-neutral This state offers no tax deduction for 529 plan contributions Kentucky This state offers no tax deduction for 529 plan contributions Yes
19 LOUISIANA other $2,400 (I), $4,800 (J) Louisiana $2,400 (I), $4,800 (J) Pending
20 MAINE tax-neutral This state offers no tax deduction for 529 plan contributions Maine This state offers no tax deduction for 529 plan contributions Pending
21 MARYLAND other $2,500 (I), $5,000 (J) Maryland $2,500 (I), $5,000 (J) Yes
22 MASSACHUSETTS other $1,000 (I), $2,000 (J) Massachusetts $1,000 (I), $2,000 (J) Yes
23 MICHIGAN other $5,000 (I), $10,000 (J) Michigan $5,000 (I), $10,000 (J) No
24 MINNESOTA tax-neutral This state offers no tax deduction for 529 plan contributions. Minnesota This state offers no tax deduction for 529 plan contributions. Pending
25 MISSISSIPPI other $10,000 (I), $20,000 (J) Mississippi $10,000 (I), $20,000 (J) Yes
26 MISSOURI tax-parity $8,000 (I), $16,000 (J) Missouri $8,000 (I), $16,000 (J) Yes
27 MONTANA tax-parity $3,000 (I), $6,000 (J) Montana $3,000 (I), $6,000 (J) No
28 NEBRASKA other $10,000 (I,J), $5,000 if married filing separately (J) Nebraska $10,000 (I,J), $5,000 if married filing separately (J) Pending
29 NEVADA tax-neutral This state offers no tax deduction for 529 plan contributions Nevada This state offers no tax deduction for 529 plan contributions Yes
30 NEW HAMPSHIRE tax-neutral This state offers no tax deduction for 529 plan contributions New Hampshire This state offers no tax deduction for 529 plan contributions Yes
31 NEW JERSEY tax-neutral This state offers no tax deduction for 529 plan contributions New Jersey This state offers no tax deduction for 529 plan contributions No
32 NEW MEXICO other Full contribution amount New Mexico Full contribution amount Pending
33 NEW YORK other $5,000 (I), $10,000 (J) New York $5,000 (I), $10,000 (J) No
34 NORTH CAROLINA tax-neutral This state offers no tax deduction for 529 plan contributions North Carolina This state offers no tax deduction for 529 plan contributions Yes
35 NORTH DAKOTA other $5,000 (I), $10,000 (J) North Dakota $5,000 (I), $10,000 (J) Yes
36 OHIO other $2,000 (I,J) Ohio $2,000 (I,J) Yes
37 OKLAHOMA other $10,000 (I), $20,000 (J) Oklahoma $10,000 (I), $20,000 (J) Yes
38 OREGON other $2,330 (I), $4,660 (J) Oregon $2,330 (I), $4,660 (J) No
39 PENNSYLVANIA tax-parity $14,000 (I), $28,000 (J) Pennsylvania $14,000 (I), $28,000 (J) Yes
40 RHODE ISLAND home-state $500 (I), $1,000 (J) Rhode Island $500 (I), $1,000 (J) Yes
41 SOUTH CAROLINA other Full contribution amount South Carolina Full contribution amount Yes
42 SOUTH DAKOTA tax-neutral This state offers no tax deduction for 529 plan contributions South Dakota This state offers no tax deduction for 529 plan contributions Yes
43 TENNESSEE tax-neutral This state offers no tax deduction for 529 plan contributions Tennessee This state offers no tax deduction for 529 plan contributions Yes
44 TEXAS tax-neutral This state offers no tax deduction for 529 plan contributions Texas This state offers no tax deduction for 529 plan contributions Yes
45 UTAH other 5% tax credit on contributions up to $1,920(I), $3,840(J), maximum credit is $96(I), $192(J) Utah 5% tax credit on contributions up to $1,920(I), $3,840(J), maximum credit is $96(I), $192(J) Yes
46 VERMONT other 10% tax credit on contributions up to $2,500 (I), $5,000 (J), maximum credit is $250 (I), $500 (J) Vermont 10% tax credit on contributions up to $2,500 (I), $5,000 (J), maximum credit is $250 (I), $500 (J) No
47 VIRGINIA other $4,000 (I,J); fully deductible if 70 or older Virginia $4,000 (I,J); fully deductible if 70 or older Yes
48 WASHINGTON tax-neutral This state offers no tax deduction for 529 plan contributions Washington This state offers no tax deduction for 529 plan contributions Yes
49 WEST VIRGINIA other Full contribution amount West Virginia Full contribution amount Yes
50 WISCONSIN other $3,100 (I,J) Wisconsin $3,100 (I,J) Yes
51 WYOMING tax-neutral This state offers no tax deduction for 529 plan contributions Wyoming This state offers no tax deduction for 529 plan contributions Yes

Learn more about CollegeBound 529

Data is as of July 2018. The deductibility of 529 plan contributions varies by state and is subject to legislative change without notice. You should consult your tax advisor regarding you specific tax situation.

None of the State of Rhode Island, its agencies, Invesco Distributors, Inc., Ascensus College Savings Recordkeeping Services, LLC, nor any of their applicable affiliates provide legal or tax advice. This information is provided for general educational purposes only and is not to be considered legal or tax advice. Investors should consult with their legal or tax advisors for personalized assistance, including information regarding any specific state law requirements.

State tax deductions may be subject to recapture on non-qualified withdrawals and/or outbound rollovers in subsequent years. Review the applicable plan disclosure statements. Married couples may need to make their own contributions and/or to their own separate accounts in certain states. Contributions may be reduced by qualified withdrawals during the year for purposes of determining the amount that may be deducted in certain states. Contributions by a spouse may only be deductible if a joint return is filed in certain states. Spouses filing jointly may each need to have income generated up to the amount of the contribution made to claim the maximum (per beneficiary) deduction in certain states. Contributions to an account established after a beneficiary reaches a certain age may not be eligible for a deduction or credit. Contributions made by the account owner, a non-account owner who files a joint return with the account owner, or other non-account owner may be treated differently amongst the states regarding eligibility for deductions or credits and whom can apply it to their tax return. The deductibility of 529 plan contributions varies by state and is subject to legislative change. You should consult your tax advisor regarding your specific tax situation.

Rhode Island taxpayers who are account owners and contribute to a CollegeBound 529 account are eligible for a deduction in computing state income tax for contributions made to CollegeBound 529 of up to $1,000 for married couples filing jointly and $500 for individual filers. Subject to certain conditions and requirements, contributions in excess of the annual limit can be carried forward and deducted in future years. If a participant makes a non-qualified withdrawal or certain transfers/rollovers to another state's program, the amount of the deduction may be "recaptured" and included in the account owner's Rhode Island income. Check with your tax advisor to see how 529 plans are treated for income tax purposes.