529 credit: YesTax parity: No — in-state plan only
In-state plan only
Nine "tax-parity" states give the state tax break on contributions to any state's 529 plan. Oregon isn't one of them: only contributions to Oregon's own 529 — the Oregon College Savings Plan, now Embark Savings — qualify for the state credit. A contribution to another state's plan still grows federal-tax-free, but it earns no Oregon tax break.
The credit
For 2026, Oregon gives a refundable state income-tax credit of up to $190 (single filers) or $380 (married filing jointly) for contributions to Oregon's 529 — up from $180 / $360 in 2025. The percentage of your contribution that counts toward the credit depends on adjusted gross income, so lower-income savers reach the maximum with smaller contributions. Because the credit is refundable, it pays out even in a year with no Oregon tax owed. Figures change yearly — confirm the current numbers with the Oregon plan.
How it fits with the gift-tax rules
A 529 contribution is also a gift for federal purposes, so it counts toward the $19,000 annual exclusion (2026). The 5-year election ("superfunding") lets you front-load up to $95,000 per donor per child without using any lifetime exemption.
See how much you can front-load with the 529 Superfunding Calculator, and keep family contributions within the exclusion with the Gift Tax Calculator.
529 deductions & credits in other states
Tax-parity states let you deduct contributions to any state's 529 plan; the rest limit the benefit to their own plan.
Tax parity: Arizona · Arkansas · Kansas · Maine · Minnesota · Missouri · Montana · Ohio · Pennsylvania
Own-plan deduction or credit: New York · New Jersey · Connecticut · Massachusetts · Rhode Island · Vermont · Illinois · Indiana · Michigan · Wisconsin · Iowa · North Dakota · Virginia · Maryland · District of Columbia · West Virginia · Georgia · South Carolina · Colorado · New Mexico · Utah · Idaho · Oklahoma · Alabama · Mississippi · Louisiana · Nebraska
General information, not tax advice. 529 credit rules and limits change yearly and this page may not reflect the latest figure — confirm with the Oregon plan and your CPA. Oregon's tax break applies to the in-state plan only as of recent guidance.
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