- (1) Sales of tangible personal property by a federally chartered credit union are exempt from sales tax. A federally chartered credit union is an instrumentality of the Federal Government and, therefore, exempt from tax.
- (2) Sales of tangible personal property by a state chartered credit union are subject to the sales tax.
Author: Dan DeVaughn
Statutory Authority: Code of Ala. 1975, §§40-23-31, 40-23-83.
History: Adopted June 12, 1978. Filed September 28, 1982.