Texas Tax Code 171.079 – Exemption–Electric Cooperative Corporation
Current as of: 2024 | Check for updates
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Terms Used In Texas Tax Code 171.079
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
An electric cooperative corporation incorporated under Chapter 161, Utilities Code, that is not a participant in a joint powers agency is exempted from the franchise tax.