Maine 529 plan: tax break and facts

Maine taxpayers can get a state tax deduction for contributing up to $1,000 (single) or $1,000 (joint) a year, and it applies to any state's 529 plan. Here are the facts on Maine's direct-sold 529 plan (the one you open yourself, without an advisor).

What Maine law says

For tax years beginning on or after January 1,23, 20taxpayersmay deduct up to $1,000 per beneficiary, of contributions made to a Maine or non-Maine qualified tuition program. Taxpayers filing single or married separate returns with federal adjusted gross income of more than $100,000, and taxpayers filing married joint or head of household returns with federal adjusted gross income of more than $200,000do not qualify for the deduction.See36 M.R.S. § 5-4 Maryland Yes No Maryland Prepaid College Trust– Maryland provides a maximum annualsubtractionof $2,500 per prepaid contract for individual filers. If each spouse on a joint return has made a contribution,each spouse can take thesubtractionup to the annual limit per prepaid contract. Excess contributions may be carried forward to succeeding taxable years until the full amount has been allowed as a subtraction. Maryland College Investment Pl

Summary of state law from the ICI 2025 state tax survey; it may predate 2026 changes.

2026 limits and parity: Savingforcollege. Manager, fees and minimum: only when stated on the plan's homepage text we read (2026-10-12); otherwise 'not found'. Check the plan's disclosure document for exact fees.