MAINE 529 PLAN · TAX YEAR 2026
Maine 529 tax deduction calculator
Maine lets you deduct up to $1,000 of 529 contributions per beneficiary if your income is under $100,000 ($200,000 on a joint or head of household return). A single filer with $75,000 of wages who contributes $5,000 saves $68 of Maine tax.
State tax saved
- Maine tax saved
- $67.50
- Deduction
- $1,000.00
- Deduction limit
- $1,000.00
- Maine tax before
- $3,384.50
- Maine tax after
- $3,317.00
Maine tax saved by contribution
With $75,000 of wages and one beneficiary.
| Contribution | Single | Married filing jointly |
|---|---|---|
| $1,000 | $68 | $58 |
| $5,000 | $68 | $58 |
| $10,000 | $68 | $58 |
| $20,000 | $68 | $58 |
Maine 529 tax questions
Does Maine have a 529 tax deduction?
Yes. Maine lets you deduct up to $1,000 of 529 contributions per beneficiary if your income is under $100,000 ($200,000 on a joint or head of household return).
How much does a $5,000 529 contribution save in Maine?
$68 of Maine tax for a single filer with $75,000 of wages, and $58 for a married couple filing jointly with the same income.
Which 529 plans qualify for Maine's deduction?
Any state's 529 plan. Maine allows the deduction for contributions to any 529 plan, not only its own.
Is a 529 contribution deductible on the federal return?
No. Contributions to a 529 plan aren't deductible on the federal return. Earnings grow tax-free, and withdrawals for qualified education expenses aren't taxed; part of the earnings is taxed when withdrawals exceed those expenses.
What the calculator leaves out
The calculator assumes the contribution goes to a plan that qualifies for the state's benefit: the state's own plan unless the state accepts any 529 plan. Wages are the only income, and they stand in for the income a state tests against its limits. Per-beneficiary limits assume the contribution is split evenly. Federal tax does not change, because 529 contributions aren't federally deductible. Carryforwards of earlier contributions, recapture on nonqualified withdrawals and city or school district taxes are left out.