Alabama Code 34-27-65. Proceeds from sale, etc., of lease plan exempt from Transient Occupancy Tax
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Terms Used In Alabama Code 34-27-65
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
The proceeds from the sale or resale of any vacation time-sharing lease plan shall be exempt from the Transient Occupancy Tax imposed by Section 40-26-1.