Texas Business Organizations Code 251.451 – Exemption From Taxes
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Terms Used In Texas Business Organizations Code 251.451
- Association: means an entity governed as an association under Title 6 or 7. See Texas Business Organizations Code 1.002
- cooperative association: means an association governed as a cooperative association under Chapter 251. See Texas Business Organizations Code 1.002
- License: means a license, certificate of registration, or other legal authorization. See Texas Business Organizations Code 1.002
A cooperative association organized under this chapter is exempt from the franchise tax and license fees imposed by the state or a political subdivision of the state, except that a cooperative association is exempt from the franchise tax imposed by Chapter 171, Tax Code, only if the cooperative association is exempt under that chapter.