EXHIBIT 10.1. COST SHARING AGREEMENT. The Cost Sharing Agreement (the Agreement) is between PEMCO MUTUAL INSURANCE. COMPANY (PMIC) a corporation with its principal office at 325 Eastlake Ave E, Seattle, WA 98109, and EVERGREENBANK (the Company), a corporation with its. principal office at 301Eastlake Ave E, Seattle, WA 98109, and is effective as of.
Answer: Section 529 plans, which include college savings plans and prepaid tuition plans, offer several tax and nontax benefits. But unfortunately, a federal income tax deduction is not one of them. You can't claim a federal income tax deduction for contributions you make to your 529 plan.However, certain states offer state income tax deductions for contributions to 529 plans. You should check with your individual 529 plan or your state's taxing authority to determine the tax treatment in your state.ection 529 plans, which include college savings plans and prepaid tuition plans, offer several tax and nontax benefits. But unfortunately, a federal income tax deduction is not one of them.
Federal Taxes. You do not get a federal tax deduction for 529 plan contributions, but the accounts yield other major federal tax benefits. The money in 529 plans grows without incurring state or federal taxes, and you pay no taxes on the earnings when you withdraw funds for qualified college expenses. 529 plan, also known as a qualified tuition plan, is a financial account that enables saving for college with tax-advantaged growth. Contributions are not tax-deductible for federal income tax returns.