Montana Code Annotated 2021

TITLE 15. TAXATION

CHAPTER 62. FAMILY EDUCATION SAVINGS ACT

Part 2. Family Education Savings Program Account -- Administration

Deductions For Contributions

15-62-207. (Temporary) Deductions for contributions. An individual who contributes to one or more accounts in a tax year is entitled to reduce the individual's adjusted gross income, in accordance with 15-30-2110(11), by the total amount of the contributions, but not more than $3,000. The contribution must be made to an account owned by the contributor, the contributor's spouse, or the contributor's child or stepchild if the contributor's child or stepchild is a Montana resident.

15-62-207. (Effective January 1, 2024) Deductions for contributions. An individual who contributes to one or more accounts in a tax year is entitled to reduce the individual's adjusted gross income, in accordance with 15-30-2120, by the total amount of the contributions, but not more than $3,000. The contribution must be made to an account owned by the contributor, the contributor's spouse, or the contributor's child or stepchild if the contributor's child or stepchild is a Montana resident.

History: En. Sec. 1, Ch. 468, L. 2001; amd. Sec. 6, Ch. 566, L. 2003; amd. Sec. 2, Ch. 509, L. 2007; amd. Sec. 39, Ch. 503, L. 2021.