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Maine 529 plans
Maine residents receive outstanding state plan benefits.
Learn about state tax benefits ↓Maine residents receive outstanding state plan benefits.
Learn about state tax benefits ↓Featured 529 plans for Maine residents:
View all 529 plans for Maine ↓
State tax deduction or credit
Individuals who file individual Maine state income returns will be able to deduct up to $1,000 per Designated Beneficiary per tax year for their total, combined contributions to any Section 529 Program during the tax year, for taxable years beginning on or after January 1, 2023. The deduction is not available to taxpayers with federal adjusted gross income over $100,000 (single or married filing separately) or $200,000 (married filing jointly or head of household).
Maine is a tax parity state, enabling tax benefits for contributions to non-state 529 plans. See the best 529 plans →
Which 529 plans does Maine offer?
Maine offers two direct-sold 529 savings plans and one advisor-sold 529 program available to residents of any state. Both direct-sold plans are managed by Vestwell utlilizing BlackRock investment options: the NextGen 529 - Client Direct Series offers a full investment menu, while the NextGen 529 - Client Connect Series offers a simplified approach to investing with fewer portfolio options. The advisor-sold NextGen 529 - Client Select Series offers investment options using multiple fund families.
Direct sold 529 plans
"Do-it-yourself" type plans in which the saver enrolls and sets up the initial investment. Fortunately most 529 plans make this simple! You'll pay no sales charges beyond fund and administrative fees.
Advisor sold 529 plans
Plans offered by investment professionals. You'll gain the guidance of a financial advisor, but will incur sales charges and/or fees as you invest.
Our rating
4 / 5
Special award
ABLE Plans
529 ABLE accounts let Americans with disabilities save tax-deferred for education and other expenses without impacting eligibility for public benefits.
ABLE Plan
The ABLE ME Program is established and maintained by the Maine State Treasurer and administered by Bangor Savings Bank. The ABLE ME Program is intended to operate as a qualified ABLE program, pursuant to Internal Revenue Code Section 529A, that was adopted as part of The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014, as amended.
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