The Department of Revenue does not administer Georgia's Section 529 Plan. Information
about the Plan can be obtained at www.path2college529.com
or by calling 877-424-4377.
The purpose of the plan is to provide a tax-advantaged method of saving for post
secondary education. For Georgia income tax purposes, the plan allows a deduction
for up to $2,000 in contributions and a tax exclusion for the earnings when they
are withdrawn in certain circumstances.
For tax years beginning on or after January 1, 2007, all taxpayers may contribute
and deduct up to $2,000 on behalf of any beneficiary of a Georgia Higher Education
Savings Account. Additionally, the federal adjusted gross income phase-out limitation
is completely eliminated. Finally, a taxpayer is not required to itemize his or
her deductions to make this adjustment to income. Contributions or payments for
such taxable years may be made during or after such taxable year but on or before
the deadline for making contributions to an individual retirement account under
federal law for such taxable years.
Visit www.path2college529.com or
contact the Plan Administrator at 877-424-4377 for information about the plan.
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