New Jersey Statutes 54:4-3.15. Exemption of property used by veterans who sustained a permanent disability
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Terms Used In New Jersey Statutes 54:4-3.15
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
54:4-3.15. Any personal property or real estate not exceeding 250 acres in extent, owned and actually and exclusively used by any corporation organized under the laws of New Jersey to provide instruction in agricultural pursuits for soldiers and sailors of the United States who have sustained a permanent disability while in active service in time of war, provided all income derived from the property in excess of the expense of its maintenance and operation, shall be used exclusively for the benefit of soldiers and sailors with permanent disabilities, shall be exempt from taxation under this chapter.
Amended 2017, c.131, s.213.