2012 Code of Alabama
Title 16 - EDUCATION.
Chapter 26C - ALABAMA EDUCATION FOUNDATION.
Section 16-26C-11 - Exemptions from taxation.
(a) All assets and properties of the foundation, the income therefrom, and all other income of the foundation shall forever be exempt from any form of taxation in the State of Alabama whether imposed by the state, a county, or a municipality.
(b) All gifts, grants, devises, and bequests to the foundation by individuals, associations, corporations, and companies shall be exempt from all county and municipal taxes and shall be deductible from state income taxes in accordance with Section 40-18-15, as amended.
(Acts 1992, 2nd Ex. Sess., No. 92-716, p. 212, §11.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
