Is there any tax consequence if I get money from an Annuity before I'm 59?
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That depends. What the other two forgot to ask is if it is a qualified annuity or non-qualified.
Qualified means that you have not ever paid taxes on this money. (example: 401K, IRA)
Non Qualified means that somewhere in the past, you have paid taxes on the principal amount.
If it qualified, then yes you will pay an extra IRS tax of 10% on the withdrawal prior to age 59 1/2.
If not, then the money that you will pay taxes on is the gain you have received and withdrawn. The withdrawal typically comes from the interest first.
The term Annuity is purely the vehicle in which you have chosen to put your money.
Answers:
Yes, you will have a 10% penalty due that tax year as well as any surrender charges that the annuity is charging. There are a couple exceptions however, terminal illness, unemployment, etc. depending on the policy. Do you have one of those?
This is the simplest answer I can give. The other guy did a nice job for you as well.
Yes. The money in the annuity grows on a tax deferred (not tax free) basis. When you take money out of the annuity, you will have to pay tax on your gain (contract value minus your original investment). This happens no matter at what age you take the money out.
If you take the money out before age 59 and a half, the IRS will penalize you 10% for the early withdrawal.
The exception to the penalty is if you do a 72(t) and take the money out over your lifetime.