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529 News

North Carolina enhances 529 deduction

(August 3, 2007) - North Carolina has enacted legislation increasing the amount of the state income tax deduction for contributions to the state's 529 savings plan. Effective for 2007, the maximum deduction increases to $2,500 per tax return ($5,000 per joint tax return).

In addition, the income limitations on claiming the deduction have been removed, although they come back in 2012.

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