Central Credit Union of Maryland v. Comptroller of Treasury

The question in this case is whether sales of tangible personal property to a state chartered credit union are exempt from the imposition of the Maryland Retail Sales Tax. Central Credit Union of Maryland (Central) is a credit union organized under the laws of the State of Maryland whose membership consists solely of officers, directors, committeemen and employees of other federal and state chartered credit unions operating in the State. Central accepts deposits from its members and makes loans to them under the supervision of the State Bank Commissioner. All of its income in excess of its…