A SEP IRA allows generous contributions limits. The 2015 and 2016 SEP IRA contribution limit is $53,000. Within IRS limits, contributions into a SEP IRA are generally 100% tax deductible. Interest earned in a SEP IRA grows tax-deferred.
It was passed by Congress on June 13, 1866, and ratified by the states as of July 9, 1868. The 14th Amendment contained three major provisions: The Citizenship Clause granted citizenship to All persons born or naturalized in the United States.
The Supreme Court uses the 14th amendment to apply the protections of the Bill of Rights to the states. For example, in the 1925 case of gitlow V. New York, a man was indicted by the state for Seditious speech. The court found that the federal protection of free-speech should be applied to the states.