Texas Tax Code 171.057 – Exemption–Nonprofit Corporation Organized to Promote County, City, or Another Area
Current as of: 2024 | Check for updates
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Terms Used In Texas Tax Code 171.057
- 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.
A nonprofit corporation organized solely to promote the public interest of a county, city, town, or another area in the state is exempted from the franchise tax.