Utah 529 Plan Calculator

A 529 plan is a state-sponsored, tax-advantaged investment account designed to fund qualified education expenses. Utah has a flat 4.65% state income tax. Contributions to the home-state 529 plan often qualify for a state income tax deduction or credit, reducing your effective contribution cost.

Utah detail: Utah offers a 4.55% non-refundable state income tax credit on contributions to my529, capped at about $2,640 single / $5,280 married joint per beneficiary in 2026.

Earnings inside a 529 grow federally tax-free, and withdrawals used for qualified expenses (tuition, room and board, books, computers, and up to $10,000/year in K-12 tuition) are also federal tax-free. SECURE 2.0 expanded options further: unused 529 funds (held 15+ years) can be rolled to a Roth IRA for the beneficiary, subject to a $35,000 lifetime cap and annual Roth IRA contribution limits. Non-qualified withdrawals trigger ordinary income tax on earnings plus a 10% penalty.

When choosing a plan, weigh the Utah state tax benefit against expense ratios, age-based portfolio quality, and direct-sold vs. advisor-sold fee structures. Direct-sold plans typically have the lowest fees. The calculator above projects future balance assuming compound growth and consistent contributions through the beneficiary's college years.

Utah's my529 plan (state-administered with Vanguard, DFA, and other underlying funds) is widely regarded as the top-rated 529 plan in the country (Morningstar Gold every year since 2010) due to extremely low expense ratios (0.10%–0.16%) and customizable portfolios. Utah offers a refundable tax credit equal to 4.85% of contributions, with max credit of $122.46 per beneficiary single / $244.92 MFJ — modest but as a credit, more valuable than equivalent deductions. The plan accepts non-resident enrollment.