164.758 Property of authority tax exempt, contributions to be deductible from
130 words·~1 min read·
/ky/164-758A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
income or franchise taxes.
(1)All property and income of the Kentucky Higher Education Assistance Authority
shall be exempt from all taxes and assessment of any nature whatsoever.
(2)Notwithstanding the provisions of any general or special law or the provisions of
any certificate of incorporation, charter, or other articles of organization, all
domestic corporations or associations organized for the purpose of carrying on
business in this state and any person or group is hereby authorized to make
contributions to the Kentucky Higher Education Assistance Authority, and such
contributions shall be allowed as deductions in computing the net taxable income of
any such person, corporation, or association for the purposes of any income,
franchise, or other tax of any nature whatsoever imposed by the state or any
political subdivision thereof.