Nonqualifying Distributions Sample Clauses

Nonqualifying Distributions. If a designated beneficiary withdraws amounts from a Xxxxxxxxx ESA that exceed the qualified education expenses for the same year, or the distributions are not used for qualified education expenses, a portion of the distributions will be taxable. The amount in excess of the qualified education expenses is taxable pro rata, based on the earnings and the basis in the account. In most cases of a nonqualified distribution, the taxable portion of a Xxxxxxxxx ESA distribution is also subject to an additional 10 percent penalty tax. There are several exceptions to the 10 percent penalty tax including distributions made payable
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Related to Nonqualifying Distributions

  • Grant Payments All grant payments are requested by submitting a Grant Payment Request. Payment Requests and supporting documentation must be submitted on the DOS Grants System at xxxxxxxxx.xxx. The total grant award shall not exceed $[award], which shall be paid by the Division in consideration for the Grantee’s minimum performance as set forth by the terms and conditions of this Agreement. The grant payment schedule is outlined below:

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof:

  • Retirement Options The Xxxxxxx Community College Board of Trustees may at its discretion grant one of the following retirement incentive plans to eligible faculty. The unit member must elect and may participate in only one of the three following retirement plans:

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