HB23-1047
Joint Filing Deduction Qualified Tuition Program
Concerning the income tax deduction for married persons filing income tax returns jointly pursuant to a qualified tuition program contribution plan.
Session:
2023 Regular Session
Subject:
Bill Summary
Fiscal Policy & Taxes
Current law allows a state income tax deduction for payments made under a qualified state tuition program equal to a maximum of $20,000 for a taxpayer who files an individual income tax return and $30,000 for 2 married taxpayers who file a joint income tax return. The bill increases to $40,000 the maximum deduction for married taxpayers who file a joint income tax return.
(Note: This summary applies to this bill as introduced.)