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2020 Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 1 - Provisions Applicable to Counties Only.
Chapter 20 - Promotion of Industry and Trade.
Article 2 - Industrial Development Boards.
Section 11-20-47 - Exemptions of Corporations - Taxation.
Universal Citation: AL Code § 11-20-47 (2020)
Section 11-20-47
Exemptions of corporations - Taxation.
The corporation, all properties at any time owned by it and income therefrom of the corporation, all bonds issued by the corporation and the income therefrom, conveyances by or to the corporation and leases and mortgages by or to the corporation shall be exempt from all taxation in the State of Alabama. No license or excise tax may be imposed on any corporation in respect of the privilege of engaging in any of the activities authorized by this article.
(Acts 1977, No. 762, p. 1310, §13.)
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