Michigan Compiled Laws § 390.1486 Contributions And Interest Earned As Tax Exempt; Withdrawals As Taxable.

390.1486 Contributions and interest earned as tax exempt; withdrawals as taxable.

Sec. 16.

(1) Contributions to and interest earned on an education savings account are exempt from taxation as provided in sections 30 and 30f of the income tax act of 1967, 1967 PA 281, MCL 206.30 and 206.30f.

(2) Withdrawals made from education savings accounts are taxable as provided in section 30 of the income tax act of 1967, 1967 PA 281, MCL 206.30.

History: 2000, Act 161, Imd. Eff. June 16, 2000

Section: Previous  390.1474  390.1475  390.1476  390.1477  390.1478  390.1479  390.1480  390.1480.amended  390.1481  390.1482  390.1483  390.1484  390.1485  390.1486  

Last modified: October 10, 2016