§ 1804.
85 words·~1 min read·
/vt/title-8/chapter-65/1804A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 1804. Tax exempt status
Being an institution of public welfare created primarily to increment, augment, and increase sources of taxation within the State, and, in order to induce continuing public support to the corporation, earnings of the corporation shall be exempt from State income taxes, and the holder or holders of any security issued by the corporation shall, in like manner, be exempt from payment of income taxes on dividends or interest paid thereon. (Added 1969, No. 64, § 1, eff. Jan. 1, 1970.)