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Education Financial
Services, Your 529 Advisors
Does your state offer a tax incentive?
Calculate the potential value of your state
tax deduction with our State Tax Savings
Calculator
| State |
Current Plan |
Maximum $ State Tax Deduction |
% |
Maximum $ State Tax Savings |
| Alabama |
VanKampen |
|
|
|
| Alaska |
ManuLife |
|
|
|
| Arizona |
Amercian General |
|
|
|
| Arkansas |
Franklin Templeton |
|
|
|
| California |
TIAA CREFF |
|
|
|
| Colorado |
Salomon Smith Barney |
$280,000 / account |
4.63% |
$12,964.00 |
| Conneticut |
TIAA CREFF |
|
|
|
| Delaware |
Fidelity |
|
|
|
| Florida |
State Plan |
|
|
|
| Georgia |
TIAA CREFF |
Ind. $1,000 / Joint $2,000 |
6.00 |
Ind. $60 / Joint $120 |
| Hawaii |
Delaware Investments |
|
|
|
| Idaho |
TIAA CREFF |
Ind. $4,000 / Joint $8,000 |
7.70% |
Ind. $308 / Joint $616 |
| Illinois |
Salomon Smith Barney |
$235,000 / account |
3.00% |
$7,050.00 |
| Indiana |
One Group |
|
|
|
| Iowa |
Vanguard |
$2,290 / account |
0.36% - 8.98% |
$8.25 - $205.64 |
| Kansas |
American Century |
Ind. $2,000 / Joint $4,000 |
6.45% |
Ind. $129 / Joint $258 |
| Kentucky |
TIAA CREFF |
|
|
|
| Louisiana |
State Plan |
$2,400 / account |
2.0% - 14% |
$48 - $336 |
| Maine |
Merrill Lynch |
|
|
|
| Maryland |
T. Rowe Price |
$2,500 / account owner |
4.80% |
$120.00 |
| Massachusetts |
Fidelity |
|
|
|
| Michigan |
TIAA CREFF |
Ind. $5,000 / Joint $10,000 |
4.20% |
Ind. $210 / Joint $420 |
| Minnesota |
TIAA CREFF |
|
|
|
| Mississippi |
TIAA CREFF |
Ind. $10,000 / Joint $20,000 |
5.00% |
Ind. $500 / Joint $1,000 |
| Missouri |
TIAA CREFF |
$8,000 / account owner |
6.00% |
$480.00 |
| Montana |
Pacific Life |
Ind. $3,000 / Joint $6,000 |
11.00% |
Ind. $330 / Joint $660 |
| Nebraska |
AIM |
Ind. $500 / Joint $1,000 |
6.84% |
Ind. $500 / Joint $1,000 |
| |
Union Bank & Trust |
|
|
|
| Nevada |
American Skandia |
|
|
|
| New Hampshire |
Fidelity |
|
|
|
| New Jersey |
Franklin Templeton |
|
|
|
| New Mexico |
State Street |
$294,000 / account |
8.20% |
$24,108.00 |
| |
Oppeneheimer |
|
|
|
| |
Main Stay |
|
|
|
| New York |
TIAA CREFF |
Ind. $5,000 / Joint $10,000 |
6.85% |
Ind. $43.75 / Joint $685 |
| North Carolina |
Seligman |
|
|
|
| North Dakota |
Morgan Stanley |
|
|
|
| Ohio |
Putnam |
$2,000 / beneficiary |
6.98% |
$139.00 |
| Oklahoma |
TIAA CREFF |
$2,500 / contributor |
6.75% |
$168.00 |
| Oregon |
MFS |
$2,000 / account |
9.00% |
$180.00 |
| |
Strong Funds |
|
|
|
| Pennsylvania |
State Plan |
|
|
|
| Rhode Island |
Alliance |
Ind. $500 / Joint $1,000 |
2.5% - 8.75% |
Ind. $342.50 / Joint $87.50 |
| South Carolina |
Banc of America |
$256,000 / account |
7.00% |
$17,920.00 |
| South Dakota |
PIMCO |
|
|
|
| Tennessee |
TIAA CREFF |
|
|
|
| Texas |
Enterprise |
|
|
|
| Utah |
Vanguard |
Ind. $1,470 / Joint $2,940 |
7.00% |
Ind. $103 / Joint $206 |
| Vermont |
TIAA CREFF |
|
|
|
| Virginia |
American Funds |
$2,000 / account owner |
5.75% |
$115.00 |
| Washington |
State Plan |
|
|
|
| Washington D.C. |
DC College Savings Plan |
Ind. $3,000 / Joint $6,000 |
5.00% - 9.30% |
Ind. $279 / Joint
$558 |
| West Virginia |
Hartford Life |
$265,620 / account owner |
6.50% |
$17,240.00 |
| Wisconsin |
Strong Funds |
$3,000 / beneficiary |
6.75% |
$202.00 |
| Wyoming |
MFS |
|
|
|
*We believe these amounts to be accurate. However, you
should consult with your tax advisor for accurate savings for your needs.
**Each state and plan has specific guidelines for State
Income Tax purposes. Please consult with your tax advisor for your specific
needs.
***Actual State Income Tax Savings may depend on your
income level and how you file your taxes. Please consult with your tax
adviors for specific State Income Tax Savings for your needs.
****These figures are to be used as a guide for your
purposes. Please consult your tax advisor for specific income tax information.
Securities offered through Medallion Investment Services, Inc.*
Member NASD & SIPC (410) 544-8400
Insurance products offered through Medallion Insurance Services, LLC*
*Wholly-owned subsidiary of TMG Holding Company, Inc. T/A The Medallion
Group
Non qualified withdrawals are subject to federal and state
income tax and a 10% penalty.
The federal tax treatment of 529 Plans under the Economic
and Tax Reconciliation Act of 2001 will expire after December 31, 2010
unless Congress extends the law.
Grogan Advisory Services
1709 Cherokee Road #305
Johnson City, TN 37604
518.899.6090
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