The taxes levied by this chapter shall not apply to any corporation that is wholly or partially exempt from the franchise tax imposed by former Chapter 14 of this title because it is a party to a contract with the Department of Economic and Community Affairs under the authority of Section 41-23-30.
Ala. Code § 40-14A-42
Applicability to Certain Corporations Under Contract with Department of Economic and Community Affairs.
(Act 99-665, 2nd Sp
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.