Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/40-14A-32.htm |
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Depth: | 0 singles |
Size: | 1,471 bytes |
Modified: | 2004-07-01 15:45:04 |
Categories: | -None- |
Title: | 40-14A-32 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 40-14A-32 (Repealed for taxable years beginning on or after January 1, 2002.) Exemptions. The tax levied by this article shall not apply to: (1) Financial institutions, as defined in Section 40-16-1, that are subject to the provisions of Chapter 16 as to the excise taxes levied on financial institutions; (2) Insurance companies that are subject to the premium taxes levied by Chapter 4A of Title 27; (3) Corporations, limited liability entities, companies, or associations whose property is assessed for taxation pursuant to the provisions of Chapter 21 and are also obligated to serve the general public; (4) Real estate investment trusts as defined in Chapter 13 of Title 10; and (5) Any corporation organized as a not-for-profit corporation that does not engage in any business other than holding title to property and paying the expenses thereof, including, without limitation, a property owner's association or a corporation organized solely to hold title to property on a temporary basis. (Act 99-665, 2nd Sp. Sess., p. 131, §2; Act 2000-705, p. 1442, §2; repealed by Act 2000-705, §12.) |