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Montana enacts state tax parity for 529 deduction

(May 17, 2013) - Montana Governor Steve Bullock has signed into law a bill (SB 117) that makes a Montana taxpayer's contributions to a non-Montana 529 plan eligible for a state income tax deduction. The maximum annual Montana deduction is $3,000 by an individual and $6,000 for a married couple filing jointly. Montana joins a small handful of states in adopting tax "parity" for 529-plan contributions. The change is effective retroactively to the beginning of 2013.

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