|
|
Deductibility
|
|
State
|
Single
|
Married
|
Comments
|
Maximum Contribution
|
| Illinois |
$10,000 |
$20,000 |
|
$500,000 |
| Indiana |
special |
special |
20% tax credit on up to $5,000 (maximum $1,500) |
$450,000 |
| Iowa |
$5,800 |
$11,600 |
Amount is per beneficiary and must be made by the account owner |
$505,000 |
| Kansas |
$3,000 |
$6,000 |
Can deduct contributions to out-of-state plans |
$501,000 |
| Michigan |
$5,000 |
$10,000 |
Limits are for the Michigan Education Savings Program; contributions to the Michigan Education Trust are fully deductible |
$500,000 |
| Minnesota |
$1,500 |
$3,000 |
Alternatively, tax credit equal to 50% of the contributions to accounts may be claimed with a maximum credit amount of up to $500 |
$425,000 |
| Missouri |
$8,000 |
$16,000 |
Limits also apply to non-Missouri 529 plans |
$550,000 |
| Nebraska |
$10,000 |
$10,000 |
$5,000 if married filing separately |
$500,000 |
| North Dakota |
$5,000 |
$10,000 |
|
$269,000 |
| Ohio |
$4,000 |
$4,000 |
Amount is per beneficiary; unlimited carryforward of excess contributions |
$555,000 |
| South Dakota |
$0 |
$0 |
No state income tax |
$350,000 |
| Wisconsin |
$5,130 |
$5,130 |
Amount is per beneficiary; account owners and contributors are eligible for the deduction; married filing separately is limited to $2,000 |
$589,650 |
|
