Alaska Statutes 47.60.080 – Exemption from taxation
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 47.60.080
- 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.
- municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
A multipurpose senior center developed and operated by a nonprofit corporation under this chapter is not subject to real or personal property taxation by a municipality. The exemption granted under this section continues in force only while the multipurpose senior center is owned and operated by a nonprofit corporation under the provisions of this chapter.