Michigan Laws 290.535 – Surplus from license fees
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Terms Used In Michigan Laws 290.535
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Any surplus from license fees collected under section 3 remaining at the close of the fiscal year must be deposited in the general fund.