Origin: Due to Massachusetts' reliance on the Internal Revenue Code (Code) for purposes of determining income, Massachusetts allows an income exclusion for amounts earned by pre-paid tuition programs and tuition savings accounts. See TIR 18-14 for more information.
Origin: IRC § 529
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2023
FY2024
FY2025
FY2026
FY2027
Personal Income Tax
Exclusions from Gross Income
1.041
Exemption of Earnings of Pre-paid and Tuition Savings ("529" plans)
Due to Massachusetts' reliance on the Internal Revenue Code (Code) for purposes of determining income, Massachusetts allows an income exclusion for amounts earned by pre-paid tuition programs and tuition savings accounts. See TIR 18-14 for more information.
<a href="https://www.law.cornell.edu/uscode/text/26/529" target="_blank">IRC § 529</a>
27.0
34.9
37.4
37.6
37.4
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