|
|
Deductibility
|
|
State
|
Single
|
Married
|
Comments
|
Maximum Contribution
|
| Connecticut |
$5,000 |
$10,000 |
5-year carryforward of excess contributions |
$550,000 |
| Maine |
$1,000 |
$1,000 |
Maine offers a $1,000 Maine income tax deduction on contributions made to NextGen 529 (and any other 529 plan). Tax filers can claim this deduction if their federal adjusted gross income is $100,000 or less if filing single or married filing separately, or $200,000 or less if filing as head of household or married filing jointly. |
$545,000 |
| Massachusetts |
$1,000 |
$2,000 |
. |
$500,000 |
| New Hampshire |
$0 |
$0 |
No state income tax |
$621,411 |
| New Jersey |
$10,000 |
$10,000 |
New Jersey taxpayers, with a gross income of $200,000 or less, may qualify for a state income tax deduction for contributions into an NJBEST plan of up to $10,000 per taxpayer, per year, beginning with contributions made in tax year 2022. |
$305,000 |
| New York |
$5,000 |
$10,000 |
|
$520,000 |
| Pennsylvania |
$18,000 |
$36,000 |
Amount is per beneficiary; both spouses must have sufficient income for maximum deduction if filing jointly; can deduct contributions to out-of-state plans |
$511,758 |
| Rhode Island |
$500 |
$1,000 |
Unlimited carryforward of excess contributions |
$520,000 |
| Vermont |
special |
special |
10% tax credit (up to $2,500 per beneficiary per individual taxpayer or $5,000 per beneficiary for married taxpayers filing jointly) |
$550,000 |
|
