Michigan Laws 205.202c – Amount received by surviving spouse pursuant to survivor benefit plan, annuity, retirement plan, or pension
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 205.202c
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
An amount received by a surviving spouse as a result of the death of a decedent pursuant to a survivor benefit plan, an annuity, retirement plan, or pension shall not be subject to the tax imposed by this act.