Sec. 55.010. EXEMPTION FROM FRANCHISE TAX. An association formed under this chapter is exempt from all franchise or other license taxes, except that:
(1) an association is not exempt from the annual license fee under Section 55.009 of this code; and
(2) an association is exempt from the franchise tax imposed by Chapter 171, Tax Code, only if exempted by that chapter.
Acts 1981, 67th Leg., p. 1123, ch. 388, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., p. 2786, ch. 752, Sec. 15(c), eff. Jan. 1, 1982.
Section: Previous 55.001 55.002 55.003 55.004 55.005 55.006 55.007 55.008 55.009Last modified: September 28, 2016