OHIO

Program Name
STABLE Account

State Administrator
State Treasurer

Program Administrator
Vestwell State Savings, LLC, dba Sumday Administration

Enrollment Website
https://www.sumday.com/register/stable

State ABLE Law
https://codes.ohio.gov/ohio-revised-code/section-113.50

State Tax Incentives

Taxpayers can deduct contributions they made to an Ohio STABLE account. This deduction is limited to $4,000* per beneficiary per year. The deduction is not limited to the savings plan owner or beneficiary. Instead, any taxpayer who makes a contribution is entitled to the deduction. Taxpayers may not deduct:

• Amounts contributed by another person; OR

• Amounts contributed to an ABLE account administered by another state.

Contributions exceeding the $4,000 limitation may be carried forward and deducted on future year's returns until fully utilized, subject to the annual limitation of $4,000 per beneficiary.