Alabama Code (Last Updated: November 28, 2014) |
Title11 COUNTIES AND MUNICIPAL CORPORATIONS. |
Title2 PROVISIONS APPLICABLE TO MUNICIPAL CORPORATIONS ONLY. |
Chapter54B. SELF-HELP BUSINESS IMPROVEMENT DISTRICTS. |
§11-54B-20. Tax exemption.
Latest version.
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A nonprofit corporation designated as a district management corporation under this article 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.