SB261 Alabama 2019 Session

Sponsors

Session

Regular Session 2019

Title

Tax exemption, Long Ranch

Description

<p class="bill_description"> Under existing law, the state imposes an ad valorem tax at a rate established by statute on the assessed value of taxable property, which value varies as a percentage of actual value depending upon the particular property. In addition, counties, municipalities, and certain other local taxing authorities impose various additional ad valorem taxes. Certain types of property and certain entities are exempt from state, county, or local ad valorem taxes. Existing law also allows the state to impose sales and use taxes upon certain persons, firms, or corporations. The amount of the taxes ranges from one and one-half to four percent of the gross proceeds of the sale or consumption of various types of tangible personal property. The state also imposes a sales tax on the operation of places of amusement or entertainment</p><p class="bill_description"> Counties and municipalities impose various additional sales and use taxes</p><p class="bill_description"> This bill would exempt all property owned and used by Long Ranch, a domestic nonprofit corporation, from any state, county, and local ad valorem taxes, and would exempt Long Ranch from state, county, and municipal sales and use taxes</p><p class="bill_entitled_an_act"> To exempt all property owned and used by Long Ranch, a domestic nonprofit corporation, including municipal sales and use tax, from any state, county, and local ad valorem taxes. </p>

Subjects

Taxation