Rhode Island General Laws 16-32.1-7. Exemption from taxation
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The research foundation, its franchise, income and all of its intellectual and personal assets, where-so-ever situated, shall be exempt from all taxation by the state and any agency thereof and any municipal corporation therein.
History of Section.
P.L. 2007, ch. 232, § 1.
Terms Used In Rhode Island General Laws 16-32.1-7
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.