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Michigan Legislature
Michigan Compiled Laws Complete Through PA 93 of 2019
House: Adjourned until Wednesday, November 20, 2019 10:00:00 AM
Senate: Adjourned until Wednesday, November 20, 2019 10:00:00 AM

Michigan Legislature

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Section 390.959

Act 77 of 1960

390.959 Higher education assistance authority; gift tax, deductible.

Sec. 9.

   Notwithstanding the provisions of any general or special law or the provisions of any certificate of incorporation, charter or other articles of organization, all domestic corporations or associations organized for the purpose of carrying on business in this state, and any person, may make contributions or gifts, grants, bequests, devises or loans to the authority. The value of gifts, grants, bequests, devises and all contributions shall be allowed as deductions in computing the net taxable income of any person, corporation or association for purposes of any income or franchise tax imposed by the state or any political subdivision thereof.

History: 1960, Act 77, Imd. Eff. Apr. 25, 1960

© 2017 Legislative Council, State of Michigan

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