Alabama § 40-16-2 Production Credit Associations Taxable Under Chapter

Alabama Statutes

§ 40-16-2 — Production Credit Associations Taxable Under Chapter

Alabama § 40-16-2

Title 40Revenue and Taxation

Ch. 16Financial Institution Excise Tax

This text of Alabama § 40-16-2 (Production Credit Associations Taxable Under Chapter) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 40-16-2 (2026).

Text

Production credit associations, incorporated pursuant to the provisions of the act of Congress known as the Farm Credit Act of 1933, are not foreign corporations, and any such association which may become taxable by the state shall be subject to the same taxation imposed upon national banks under the provisions of this chapter, and such associations shall be exempt from all other forms of income, privilege and license taxes imposed by the state.

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Production credit associations, incorporated pursuant to the provisions of the act of Congress known as the Farm Credit Act of 1933, are not foreign corporations, and any such association which may become taxable by the state shall be subject to the same taxation imposed upon national banks under the provisions of this chapter, and such associations shall be exempt from all other forms of income, privilege and license taxes imposed by the state.