Corporate stocks, bonds and securities not taxed when owned by nonresidents or foreign corporations. No stocks, bonds or other securities issued by any corporation organized under this chapter, nor the income or profits therefrom, nor the transfer thereof by assignment, descent, testamentary disposition or otherwise, shall be taxed by this State when such stocks, bonds or other securities shall be owned by nonresidents of this State or by foreign corporations.
Last modified: February 26, 2006