Below are official state-administered 529 program
resources confirming deductions, credits, contribution limits, and matching
grant programs.
State-Level 529 Plan References (Official Sources)
- New York – NY 529 College Savings Program
NY State Department of Taxation and Finance
(Deduction up to $5,000 / $10,000 MFJ) - Illinois – Bright Start & Bright Directions
Illinois State Treasurer
(Full state income tax deduction) - Indiana – CollegeChoice 529
Indiana Department of Revenue
(20% tax credit up to $1,500)
- New York – NY 529 College Savings Program
NY State Department of Taxation and Finance
(Deduction up to $5,000 / $10,000 MFJ) - Illinois – Bright Start & Bright Directions
Illinois State Treasurer
(Full state income tax deduction) - Indiana – CollegeChoice 529
Indiana Department of Revenue
(20% tax credit up to $1,500)
States with Matching Grant or Seed Programs (Income-Based)
- California – ScholarShare 529
California State Treasurer
(CalKIDS and matching grants for eligible families) - Colorado – CollegeInvest
Colorado Department of Treasury - Maine – NextGen 529
Maine State Treasurer
- California – ScholarShare 529
California State Treasurer
(CalKIDS and matching grants for eligible families) - Colorado – CollegeInvest
Colorado Department of Treasury - Maine – NextGen 529
Maine State Treasurer
States With No Income Tax or No 529 Deduction
- No State Income Tax:
Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, Wyoming - Income Tax but No 529 Deduction:
California, North Carolina, Hawaii (limited), New Jersey (phased based on income)
(Confirmed via each state Department of Revenue or Treasurer’s Office)
Financial Aid Reference
- U.S. Department of Education – Federal Student Aid (FAFSA)
Guidance on how 529 plans are treated in aid calculations:- Parent-owned plans assessed at a maximum of 5.64%
- Grandparent-owned plans excluded from FAFSA assets (as of FAFSA Simplification Act)
Estate and Gift Tax Planning Reference
- IRS Estate & Gift Tax Guidance
Confirms:- 529 contributions removed from taxable estate
- Retained control by account owner
- Five-year election mechanics