Suit takes on state tax breaks for 529 plans
A class action recently was filed in Illinois that challenges the legality of giving tax breaks to residents who invest in Illinois’ 529 college savings program but not other states’ plans.
A class action recently was filed in Illinois that challenges the legality of giving tax breaks to residents who invest in Illinois’ 529 college savings program but not other states’ plans. The case, Maryam Ahmad v. Illinois Department of Revenue, essentially claims that failing to provide tax parity flies in the face of the U.S. Constitution’s commerce clause. The suit was filed in the Circuit Court of Cook County.
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