Nebraska Bill Will Allow Increased Deduction for College Savings Contributions

LB296 was signed into law on June 3, 2013, which will allow account owners of Nebraska's 529 College Savings Plans an increased state income tax deduction for contributions into their accounts. The deduction will increase from $5,000 to $10,000 for single filers and married couples filing jointly and from $2,500 to $5,000 for a married individual filing separately, beginning in 2014.
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