Utah Code 63H-8-404. Corporation property, notes, and bonds — Tax exemption except corporate franchise tax
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(1) Property acquired or held by the corporation under this chapter is declared to be public property used for essential public and governmental purposes.
Terms Used In Utah Code 63H-8-404
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- State: means the state of Utah. See Utah Code 63H-8-103
(2) The property, its income, and notes and bonds issued under this chapter, the interest payable on the notes and bonds, and income derived from the notes and bonds are exempt from taxation of every kind by the state, a county, a municipality, and any other political subdivision of the state, except for the corporate franchise tax.