California Government Code 67583 – All bonds, and the interest thereon, are exempt from all taxation by …
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All bonds, and the interest thereon, are exempt from all taxation by the State of California or any public corporation other than gift, inheritance and franchise taxes.
(Added by Stats. 1974, Ch. 1373.)
Terms Used In California Government Code 67583
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18