Sec. 16. (1) Contributions to and interest earned on an education savings account are exempt from taxation as provided in section 30 of the income tax act of 1967, 1967 PA 281, MCL 206.30. (2) Withdrawals made from education savings accounts are taxable as provided in section 30 of the income tax act of 1967, 1967 PA 281, MCL 206.30.
Mich. Comp. Laws § 390.1486
Contributions and interest earned as tax exempt; withdrawals as taxable
2000, Act 161, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.