Utah state tax benefits information

Depending on their tax-filing status, Utah taxpayers can claim a 4.5% tax credit or deduction up to a certain limit per qualified beneficiary for contributions to their my529 account. See table below for specific information.

Tax Filer Maximum Allowable Contribution for a Utah State Income Tax Credit Maximum Utah State Income Tax Credit per Beneficiary (4.5%) Single $2,490 $112.05 per beneficiary Joint $4,980 $224.10 per beneficiary Trusts $2,490 $112.05 per beneficiary Grantor Trust, Married Filing Jointly $4,980 $224.10 per beneficiary Flow Through Entity $2,490 $112.05 per beneficiary Corporation $2,490 $2,490 (Deduction) per beneficiary