Tax Type
Property Tax
Description
Merchants' Capital;Exemption of Excess of Accounts Receivable Over Accounts Payable
Topic
Exemptions
Date Issued
01-11-1977
No exemption from local property taxes on merchants' capital was authorized for the excess of accounts receivable over accounts payable prior to January 1, 1976, the effective date of Chapter 420, Laws of 1975, which authorized the exemption.
Attorney General's Opinion