Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
880.0000 WELFARE EXEMPTION
(a) IN GENERAL
880.0190 Net Earnings. Constitutional provisions and case law amply support the proposition that no part of the net earnings of a qualifying organization may inure to the benefit of any private shareholder or individual, regardless of the facts that its shareholders also are qualifying organizations and that all its assets could be distributed to its shareholders upon dissolution. C 7/22/1983.