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Montana Title 53. Social Services and Institutions § 53-25-117. Deductions for contributions

Current as of January 01, 2024 | Updated by Findlaw Staff

An individual who contributes to one or more accounts established pursuant to this chapter in a tax year is entitled to reduce the individual's Montana taxable income, in accordance with 15-30-2120, by the total amount of the contributions, but not more than $3,000, if the individual is:

(1) the designated beneficiary;

(2) the spouse of the designated beneficiary; or

(3) a parent, grandparent, sibling, or child related to the designated beneficiary by blood, marriage, or legal adoption.

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Cite this article: FindLaw.com - Montana Title 53. Social Services and Institutions § 53-25-117. Deductions for contributions - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-53-social-services-and-institutions/mt-st-53-25-117/

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