Sec. 06.45.230. Exemption from taxation.
106 words·~1 min read·
/ak/title-6/chapter-45/06-45-230A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 06.45.230. Exemption from taxation.
A credit union organized under this chapter, its property, franchises, capital, reserves, surpluses, and other funds, and its income are exempt from taxation by the state or a political subdivision of the state, except that real property and tangible personal property owned by a credit union is subject to taxation to the same extent that similar property is taxed. This section does not prevent holdings in a credit union organized under this chapter from being included in the valuation of the personal property of the owners or holders under taxes imposed by the state or a political subdivision of the state.