Alabama Code 11-59-16. Exemption from taxation of corporations, facilities, bonds, etc
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 11-59-16
- 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.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
The corporation and all facilities at any time owned by it and the income therefrom and all bonds issued by it and the income therefrom shall be exempt from all taxation in the State of Alabama.