Qualified Tuition Program (QTP or 529 Plan) Formerly known as the Qualified State Tuition Program (QSTP) and commonly referred to by the Internal Revenue Code section that brought it to life (Section 529), the QTP is a government program that allows you to either prepay a student's tuition or contribute to an account established to pay a student's higher education costs.
What does QSTP stand for?
QSTP stands for Qualified State Tuition Program
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Organizations, NGOs, schools, universities, etc.
See other definitions of QSTP
We have 2 other meanings of QSTP in our Acronym Attic
- Quasi-Orthogonal Space-Time Block Code
- Quality Standards Task Force
- Quality Standards Task Group (UK)
- Qualified Source Testing Individual (examination; Source Evaluation Society)
- Quality Solution Technologies Inc. (Damascus, MD)
- Question-and-Answer Load (programming)
- Quantum Singwi-Tosi-Land-Sjolander
- Quiet Short Take-Off & Landing
- Qatar Science and Technology Park
- Quality Service through Partnership
- Quality, Service, Technology and Price
- Quantitative Structure Toxicity Relationship (toxicology)
- Quick Short Test Report
- Quick Service Temporary Storage
- Quick Shift Trim System (Yamaha)
- Quality Support Unit (various universities)
- Quality Systems Update
- Queer and Straight in Unity (student group; Augsburg College; Minneapolis, MN)
- Queer Student Union
Samples in periodicals archive:
Qualified State Tuition Programs Qualified State Tuition Programs are state-sponsored programs available to individuals for funding future higher education costs.
QUALIFIED STATE TUITION PROGRAMS Congress redesignated these programs under IRC section 529 as qualified tuition programs (QTP) in order to include educational institutions (including private schools) as eligible sponsors of private prepaid tuition type plans but not savings type plans.
Lastly (and perhaps most importantly), donors may now contribute to Education IRAs while contributing to a qualified state tuition program for the same beneficiary in the same year.
Use Coverdell Education Savings Accounts and qualified state tuition programs to save income and estate taxes as the market recovers.
Coordination with Qualified Tuition Programs: The new law repeals the excise tax on contributions to an education IRA during any tax year in which contributions are made to a qualified state tuition program for the same beneficiary.
When a program is classified as a qualified state tuition program under this section, any federal tax liability is deferred until the account is used.
The Waddell & Reed InvestEd Plan was established under the Arizona Family College Savings Program, which was created by the state of Arizona as a qualified state tuition program in accordance with Section 529 of the Internal Revenue Code.