Tex. Agric. Code Section 55.010
Exemption from Franchise Tax

An association formed under this chapter is exempt from all franchise or other license taxes, except that:

(1)

an association is not exempt from the annual license fee under Section 55.009 (Fees) of this code; and

(2)

an association is exempt from the franchise tax imposed by Chapter 171 (Franchise Tax), Tax Code, only if exempted by that chapter.
Acts 1981, 67th Leg., p. 1123, ch. 388, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., p. 2786, ch. 752, Sec. 15(c), eff. Jan. 1, 1982.

Source: Section 55.010 — Exemption from Franchise Tax, https://statutes.­capitol.­texas.­gov/Docs/AG/htm/AG.­55.­htm#55.­010 (accessed Apr. 29, 2024).

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Accessed:
Apr. 29, 2024

§ 55.010’s source at texas​.gov