Receipt of a Qualified Scholarship Sample Clauses

Receipt of a Qualified Scholarship. If the Beneficiary receives a Qualified Scholarship, you may select a new Beneficiary, withdraw from the Account up to the amount of the Qualified Scholarship, or authorize all or a portion of the amount to be withdrawn and paid to the Beneficiary without imposition of the Federal Penalty, but earnings will be subject to any applicable federal income tax at the recipient’s tax rate. If you select a new Beneficiary who is a Member of the Family of the former Beneficiary (see Substituting Beneficiaries), you will not owe federal or New York State income tax. A “Qualified Scholarship” includes certain educational assistance allowances under federal law, as well as certain payments for educational expenses that are exempt from federal income tax. You should consult a qualified educational or tax advisor to determine whether a particular payment or benefit constitutes a Qualified Scholarship. The entire amount of a withdrawal on account of a Qualified Scholarship is includable in computing the New York taxable income of the Account Owner (other than the portion of any such withdrawal that was not previously deductible for New York State income tax purposes).
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Related to Receipt of a Qualified Scholarship

  • Pueblo scholarship This articulation transfer agreement replaces all previous agreements between ACC and CSU-Pueblo in Bachelor of Social Work. This agreement will be reviewed annually and revised (if necessary) as mutually agreed.

  • LOCATION WITHIN ENTERPRISE OR REINVESTMENT ZONE At the time of the Application Approval Date, the Land is within an area designated either as an enterprise zone, pursuant to Chapter 2303 of the TEXAS GOVERNMENT CODE, or a reinvestment zone, pursuant to Chapter 311 or 312 of the TEXAS TAX CODE. The legal description, and information concerning the designation, of such zone is attached to this Agreement as EXHIBIT 1 and is incorporated herein by reference for all purposes.

  • Leave Without Pay for Personal Needs Leave without pay will be granted for personal needs, in the following manner:

  • Leave Without Pay for the Care and Nurturing of Pre-School Age Children Subject to operational requirements, an employee shall be granted leave without pay for the personal care and nurturing of the employee's pre-school age children in accordance with the following conditions:

  • How Are Contributions to a Xxxx XXX Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)

  • Scholarship 3.1 Faculty members are entitled and expected to actively engage in scholarship on an ongoing basis, to show scholarly integrity therein, and to disseminate the results of their scholarship or exhibit the results of their creative work.

  • Life Insurance and Accidental Death and Dismemberment The Board shall provide without cost to the employee’s life insurance and accidental death and dismemberment insurance in the amount of $35,000.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • Destination CSU-Pueblo scholarship This articulation transfer agreement replaces all previous agreements between CCA and CSU-Pueblo in Bachelor of Science in Physics (Secondary Education Emphasis). This agreement will be reviewed annually and revised (if necessary) as mutually agreed.

  • Group Life and Accidental Death and Dismemberment (a) The Employer will pay 100% of the premiums for the group life and accidental death and dismemberment insurance plans.

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