The Michigan intangibles tax act, in imposing a tax on income-producing intangible personal property of 3-1/2% of the income therefrom, defines "income" for that purpose to include:
"(d) * * * (2) dividends and other distributions, whether in the form of cash or property, to the extent that they represent the yield of intangible personal property; * * * Provided, That for the purpose of computing the...
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