§ 28-17-3 - Tax exemption.
SECTION 28-17-3
§ 28-17-3 Tax exemption. – The intangible personal property held in any employees' trust as defined in§ 28-17-1 shall be exempt from all sales and use taxes and all other stateand local taxation so long as it is held in trust and used for the purposes ofthe trust and of the plan of which the trust forms a part. The right of anyemployee or beneficiary under the plan to any pension, annuity, or retirementallowance or to the return of contributions, and any other benefit or rightaccrued or accruing to any person under the terms of the trust or plan shall beexempt from all local taxation and state taxation except for the personalincome tax imposed under the provisions of chapter 30 of title 44.