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Arkansas passes new laws to help college savers

(April 17, 2017) - Three Arkansas state laws recently went into effect that will help families save more for college:
1) Act 481 allows investors to carry forward a 529 deduction for four additional years (so maxing that out would allow a couple to invest $50k today and take the $10k deduction in the current tax year, plus the same for four more years)
2) Act 884 allows employers a $500 deduction PER EMPLOYEE for 529 matches into Arkansas 529 plans
3) Act 883 allows investors to take a $15,000 deduction per year per married couple filing jointly ($7500 per individual) for amounts rolled into the AR plans from another state's plan (up from $10,000 max per year). This act also allows Arkansans to take a $3000 per individual ($6000 per couple) deduction for amounts invested in out-of-state plans.

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