Statutes > Alabama Statutes > Title 40 — REVENUE AND TAXATION. > Chapter 9 — EXEMPTIONS FROM TAXATION AND LICENSES. > Section 40-9-32 Exemption of shares in corporations from ad valorem tax.

Section 40-9-32 Exemption of shares in corporations from ad valorem tax.

Section 40-9-32

Exemption of shares in corporations from ad valorem tax.

Shares of stock in corporations or associations incorporated under the laws of this state or otherwise shall be exempt from ad valorem taxation in this state.

(Act 99-665, 2nd Sp. Sess., p. 131, §8.)