New Jersey Statutes 17:48C-32. Corporation as charitable and benevolent institution; tax exemption
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Terms Used In New Jersey Statutes 17:48C-32
- 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: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
Every dental service corporation is hereby declared to be a charitable and benevolent institution, and its funds and property shall be exempt from taxation by the State or any political subdivision thereof.
L.1968, c. 305, s. 32, eff. Sept. 26, 1968.