Ohio HB48 modifies tax deductions for 529 plan and ABLE account contributions.
Ohio HB48 amends the tax code to adjust the annual contribution limits for 529 plans and ABLE accounts. Starting in 2026, the tax commissioner will annually adjust these limits based on the gross domestic product deflator. The bill also specifies rules for contributions and refunds, including how they affect federal and Ohio adjusted gross income. It repeals existing sections 5747.70 and 5747.78 of the Revised Code.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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