35-831. Exemption from taxation
67 words·~1 min read·
/az/title-35/35-831A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The corporation and its income and all bonds issued by it and the income therefrom shall be exempt from all taxation in this state, except that property of the corporation shall be subject to all applicable ad valorem taxes. If such property is leased, such ad valorem taxes shall be charged to the lessee as fully as if the lessee were the owner of such leased property.