SB29 Alabama 2023 Session

Sponsors

Session

Regular Session 2023

Title

Relating to exempt all property owned and used by Long Ranch, a domestic nonprofit corporation, from any state, county, and local ad valorem taxes; and to exempt Long Ranch from all state, county, and municipal sales and use taxes.

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</p><p class="bill_description"> Certain types of property and certain entities are exempt from state, county, or local ad valorem taxes</p><p class="bill_description"> Existing law also allows the state to impose sales and use taxes upon certain persons, firms, or corporations. Counties and municipalities also 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"> SB29 INTRODUCED Relating to exempt all property owned and used by Long Ranch, a domestic nonprofit corporation, from any state, county, and local ad valorem taxes; and to exempt Long Ranch from all state, county, and municipal sales and use taxes. </p>

Subjects

Taxation, Long Ranch, exempt from state, county and local ad valorem tax and sales and use tax.