There is a newer version of the Code of Alabama
2006 Alabama Code - Section 11-54B-20 — Tax exemption.
A nonprofit corporation designated as a district management corporation under this chapter shall be exempt from the state corporate income tax, corporate franchise tax and permit fee and from state, county, and municipal sales, use, license, gross receipts and ad valorem taxes.
(Acts 1994, No. 94-677, §20.)
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