New York 529 plan is improved
1) The account owner no longer has to be an individual but now can also be a legal entity such as a partnership or corporation. The New York deduction for contributions is only for individuals, however.
2) Unnecessary documentation procedures for withdrawals are removed.
3) The cumulative contribution limit of $100,000 has been removed, leaving in place the account balance limit of $235,000.
4) The 36-month minimum holding period requirement has been eliminated.