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Maryland bill would extend tax deduction to out-of-state 529s

(February 14, 2004) - Maryland Senate Bill SB444 would permit Maryland taxpayers to deduct contributions to any Section 529 plan, not just to Maryland's own 529 plans. In addition, the bill would cap the annual deduction to $2,500 per contributor. Currently, the law permits a Maryland taxpayer to claim larger deductions by opening multiple accounts.

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