Tennessee Statutes
§ 43-16-148 — Corporations organized as subsidiaries of agricultural cooperative associations exempt from privilege taxes
Tennessee·Title 43
All corporations organized as subsidiaries and controlled by any agricultural cooperative association formed in accordance with the laws of this state shall not be considered corporations organized for profit and doing business in Tennessee, or subject to any privilege tax levied by any law as a tax for the privilege of doing business for profit in Tennessee, it being the legislative intent to exempt by this section all such subsidiary corporations controlled by agricultural cooperative associations, where any and all profits earned by such subsidiary corporations are paid over to or expended for the benefit of the agricultural cooperative associations, with the result that the activities carried on by the corporations eventually promote and benefit the agricultural interests of this state
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Tennessee § 43-16-148 (Corporations organized as subsidiaries of agricultural cooperative associations exempt from privilege taxes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1939, ch. 168, § 1; C. Supp. 1950, § 3830.1; T.C.A. (orig. ed.), § 43-1849.
Nearby Sections
15
§ 43-1-101
Qualifications of commissioner§ 43-1-106
Duties of commissioner§ 43-1-107
Annual planting and harvest seasons§ 43-1-113
Definition of agriculture§ 43-1-114
Definition of livestock - Applicability§ 43-1-502
Administration of museum§ 43-1-503
Operation of museum - Annual reports§ 43-1-601
Creation§ 43-1-602
Board - Members§ 43-1-603
Terms of members