Indiana § 21-9-10-2 Exemption of accounts from state taxation

Indiana Statutes

§ 21-9-10-2 — Exemption of accounts from state taxation

Indiana·Title 21 HIGHER EDUCATION·Art. 9 EDUCATION SAVINGS PROGRAMS·Ch. 10 Miscellaneous Provisions

(a)Accounts and all earnings or interest on accounts are exempt from taxation in Indiana to the extent that those accounts, earnings, and interest are exempt from federal taxation under the Internal Revenue Code, subject to any penalties that are established for education savings programs under this article.

(b)Distributions under IC 6-3-2-19 from an account used to pay qualified higher education expenses are exempt from the adjusted gross income tax imposed by IC 6-3-1 through IC 6-3-7.

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(a) Accounts and all earnings or interest on
accounts are exempt from taxation in Indiana to the extent that those
accounts, earnings, and interest are exempt from federal taxation under
the Internal Revenue Code, subject to any penalties that are established
for education savings programs under this article.
(b) Distributions under IC 6-3-2-19 from an account used to pay
qualified higher education expenses are exempt from the adjusted gross
income tax imposed by IC 6-3-1 through IC 6-3-7.

Indiana § 21-9-10-2 (Exemption of accounts from state taxation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.