Idaho Code § 33-5405

Current through the 2024 Regular Session
Section 33-5405 - TAXATION TO BENEFICIARY

The designated beneficiary, as defined in section 529(e)(1) of the Internal Revenue Code, from an individual trust account or savings account established under this chapter is liable for taxes that may accrue under chapter 30, title 63, Idaho Code, when a nonqualified withdrawal is received by the designated beneficiary.

Idaho Code § 33-5405

[33-5405, added 2000, ch. 213, sec. 1, p. 580; am. 2020 , ch. 245, sec. 3 , p. 719.]
Amended by 2020 Session Laws, ch. 245, sec. 3, eff. 3/24/2020 (retroactive to 1/1/2020).