New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter IV - Miscellaneous Rules
Part 151 - The New York State College Choice Tuition Savings Program
Section 151.4 - Penalty
Universal Citation: 2 NY Comp Codes Rules and Regs ยง 151.4
Current through Register Vol. 46, No. 12, March 20, 2024
A penalty shall be withheld, and paid to the trust fund, from any early withdrawal from an account, in an amount equal to ten percent of the portion of the withdrawal constituting earnings, except for withdrawals made as a result of the death or disability of a designated beneficiary or a withdrawal made on account of a scholarship awarded to the designated beneficiary.
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