---
title: O.C.G.A. § 7-1-662. Taxes to which subject.
collection: code
id: 7-1-662
cite_as: O.C.G.A. § 7-1-662 (2025)
canonical_url: https://georgiacommons.org/code/7-1-662
md_url: https://georgiacommons.org/code/7-1-662.md
text_url: https://georgiacommons.org/code/7-1-662/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=385
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: BANKING AND FINANCE / FINANCIAL INSTITUTIONS / CREDIT UNIONS / OPERATION AND REGULATION
---

# O.C.G.A. § 7-1-662. Taxes to which subject.

Credit unions shall not be subject to any tax except the ad valorem tax upon property imposed by the Constitution of this state unless made subject thereto by express provision of the law specifically naming credit unions and making them subject thereto. All ad valorem taxes against credit unions shall be assessed upon the value of their shares, including surplus and undivided profits, and not upon their assets, other than real estate; and the rate of taxation shall not exceed the rate of taxation imposed on banking corporations, provided that, so long as federal credit unions are exempt from the payment of the tax imposed under this Code section, state credit unions shall likewise be exempt.

## History

Ga. L. 1925, p. 165, § 24; Code 1933, § 25-123; Ga. L. 1943, p. 279, § 2; Code 1933, § 41A-3113, enacted by Ga. L. 1974, p. 705, § 1.

## Law Reviews

For comment, “If It Quacks Like a Duck: In Light of Today’s Financial Environment, Should Credit Unions Continue to Enjoy Tax Exemptions?,” see 28 Ga. St. U.L. Rev. 1367 (2012).