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SALT LAKE CITY (AP) -- The deadline is this week to get a tax credit for 2008 on money put away for college through the Utah Educational Savings Plan.
Utah account owners can claim a tax credit of 5 percent on up to $1,650, or $3,300 for married couples filing jointly, on their yearly contributions.
There is no minimum amount required to qualify for the credit. The deadline for 2008 is 5 p.m. on Wednesday.
Account beneficiaries must be under 19 for the credit to be claimed.
Earnings on the accounts are exempt from state and federal taxes when the funds are used for qualified higher-education expenses.
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Information from: Deseret News
(Copyright 2008 by The Associated Press. All Rights Reserved.)
