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  • Bright Start Employee Payroll Deduction Form - Bright Start College ...

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BRIGHT START COLLEGE SAVINGS Employee Payroll Deduction Form Instructions Print clearly in all CAPITAL LETTERS using blue or black ink. When requested, please color in circles completely. Please complete.

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States typically offer state income tax benefits to any taxpayer who contributes to a 529 plan, including grandparents or other loved ones who give the gift of college. However, in 10 states only the 529 plan account owner (or the account owner's spouse) may claim a state income tax benefit.

Contributions may be completed online or mailed. Contributions for 2020 that are mailed must be postmarked to Bright Start no later than December 31, 2020 to be eligible for a 2020 deduction. Electronic contributions must be completed by 11:59 pm Central time on December 31, 2020 to be considered a 2020 contribution.

Bright Start Highly Rated! Morningstar annually rates 529 college savings programs. Bright Start has been rated as one of the top 529 plans in the nation. For three consecutive years, Bright Start has earned a Gold medal from Morningstar the highest consumer rating given to college savings programs.

Qualified higher education expenses include tuition, fees, books, supplies, and equipment required for enrollment or attendance; certain room and board expenses incurred by students who are enrolled at least half-time; the purchase of computer or peripheral equipment, computer software, or Internet access and related ...

When you invest in Bright Start, any earnings grow federal-tax free, and are tax-free when they're withdrawn for qualified college expenses. ... You can also deduct the contribution portion (but not earnings) of rollovers from other state 529 plans.

Individuals who file an Illinois state income tax return are eligible to deduct up to $10,000 per tax year ($20,000 for married taxpayers filing jointly) for total combined contributions to an Illinois 529 plan.

The biggest difference between Illinois' two 529 college savings plans is that the Bright Start plan is a direct-sold 529 plan and the Bright Directions plan is an advisor-sold 529 plan. ... But, with a direct-sold 529 plan, the account owner is responsible for the investment selection and asset allocation.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232