529 PLANS

529 News

Bill clarifying transfer tax exemption goes to TN Governor

(June 21, 2005) - A bill, SB2310, has passed the Tennessee legislature and has been sent to the Governor for signature. The bill clarifies that contributions and qualified distributions from any 529 plan are exempt from Tennessee transfer taxes, including gift and inheritance tax.

Followup: The bill was signed on June 22, 2005 and became effective on that date.

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