Vermont § 2879c - Tax exemption

Full text of Vermont Vermont Statutes Online § 2879c — Tax exemption, with citation guidance and answers to common questions.

§ 2879c. Tax exemption

  • (a) The assets of the Vermont Higher Education Investment Plan held by the Corporation
    and the assets of any similar plan qualified under Section 529 of the Internal Revenue Code and any income from them shall be exempt from all taxation by the State or any of
    its political subdivisions. Income earned or received from the Fund by any participant
    or beneficiary shall not be subject to State income tax and shall be eligible for
    any benefits provided in accordance with the Investment Plan provisions of the Internal
    Revenue Code. The exemption from taxation under this section shall apply only to assets
    and income maintained, accrued, or expended pursuant to the requirements of the Vermont
    Higher Education Investment Plan, the provisions of this subchapter, and the applicable
    provisions of the Internal Revenue Code. No exemption shall apply to assets and income
    expended for any other purposes. (b) Contributions to an account held under a Vermont Higher Education Investment Plan
    that is provided directly by the Corporation to a participant shall be eligible for
    a credit against Vermont income tax as provided under 32 V.S.A. § 5825a. (Added 1997, No. 79 (Adj. Sess.), § 1, eff. Jan. 1, 1999; amended 2001, No. 58, § 4, eff. June 16, 2001; 2003, No. 65, § 1; 2019, No. 131 (Adj. Sess.), § 106; 2019, No. 154 (Adj. Sess.), § E.605.4, eff. Oct. 2, 2020.)

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Frequently Asked Questions About Vermont § 2879c

What does Vermont Statutes Online § 2879c cover?

Section 2879c ("Tax exemption") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Vermont § 2879c?

A common citation format is "Vermont Statutes Online § 2879c" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Vermont law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.

How does Vermont § 2879c apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.