Michigan Compiled Laws § 490.105 Domestic Credit Union; Exemption From Tax; Exception; Stock Transfer Tax.

490.105 Domestic credit union; exemption from tax; exception; stock transfer tax.

Sec. 105.

A domestic credit union is exempt from taxation by this state or a political subdivision of this state except property taxes on real property. The shares of a domestic credit union are not subject to a stock transfer tax when issued by the credit union or when transferred from 1 member to another.

History: 2003, Act 215, Eff. June 1, 2004

Section: Previous  490.101  490.102  490.103  490.104  490.105  

Last modified: October 10, 2016