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Texas Business Organizations Code

§ 251.451 — EXEMPTION FROM TAXES

BO § 251.451Title 6. ASSOCIATIONS · Ch. 251. COOPERATIVE ASSOCIATIONS · Art. J. MISCELLANEOUS PROVISIONS

Statute text

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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.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 251.451 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.