Does Missouri offer a 529 plan tax deduction?

Yes. Missouri allows a state income tax deduction of up to $8,000 per taxpayer ($16,000 for married couples filing jointly) for contributions to any 529 plan, including the MOST plan. The deduction lowers your Missouri taxable income.

What is the Missouri 529 deduction limit?

The annual deduction cap is $8,000 per individual taxpayer and $16,000 for a married couple filing jointly. Contributions above the cap are still allowed in the account, but only the capped amount reduces your Missouri taxable income that year.

Can I deduct contributions to any 529 plan, or only Missouri's?

Missouri is a tax-parity state, meaning you can deduct contributions to any state's 529 plan, not just the Missouri MOST plan, up to the same per-taxpayer cap. This gives you flexibility to choose plans with better funds or lower fees.

How much do I actually save in taxes?

Your savings equal the deductible amount multiplied by your Missouri marginal income tax rate. For example, an $8,000 deduction at a 4.7% marginal rate saves about $376 in Missouri state income tax for the year.

Is there a federal tax deduction too?

No. There is no federal income tax deduction for 529 contributions; the deduction shown here is purely a Missouri state benefit. However, 529 earnings grow tax-free federally and at the state level when used for qualified education expenses.

Missouri 529 Plan Tax Benefit Calculator

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Contributing to a Missouri MOST 529 college savings plan earns a state income tax deduction — money you would otherwise pay to Missouri stays in your pocket. This calculator applies Missouri’s per-taxpayer deduction cap and your marginal state tax rate to show the real dollar value of your contribution’s tax benefit.

How it works

Missouri lets you deduct 529 contributions up to a cap, then your savings equal the deductible amount times your marginal Missouri tax rate:

deduction cap   = $8,000 (single) or $16,000 (married filing jointly)
deductible      = min(contribution, cap)
tax savings     = deductible × marginal Missouri rate

Contributions above the cap still grow in the account but do not add to the current year’s deduction. Missouri is a tax-parity state, so contributions to any state’s 529 plan qualify, not just the MOST plan.

Example

A married couple contributes $20,000 with a 4.7% marginal rate:

deductible  = min(20,000, 16,000) = 16,000
tax savings = 16,000 × 0.047 = $752

Tips and notes

Because the cap is per taxpayer, a married couple filing jointly can shelter twice as much as a single filer. There is no federal deduction — this benefit is Missouri state tax only — but 529 earnings still grow tax-free for qualified education expenses. If your contribution exceeds the cap, consider spreading it across years to capture the deduction each time.