§ 3. Exemption from certain taxes granted to certain corporations\nengaged in the operation of vessels in foreign commerce. All\ncorporations incorporated under the laws of the state of New York,\nexclusively engaged in the operation of vessels in foreign commerce, are\nexempted from all taxation in this state, for state and local purposes,\nupon their capital stock, franchises and earnings.\n
N.Y. Tax Law § 3
Exemption from certain taxes granted to certain corporations engaged in the operation of vessels in foreign commerce
Applied in 1 court decision — leading case 1 Misc. 2d 990 - People ex rel. Holmes Electric Protective Co. v. Chambers
2014-09-22
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.