No State or local tax shall be levied or placed upon the capital stock of an association or upon any scrip, bonds, certificates or other evidences of indebtedness issued by such association. The association shall not be required to file in the Department of Revenue, or with any other State or local official of this Commonwealth, the reports relative to such taxes as are or may be required of corporations not exempt from the payment of such taxes.
15 Pa.C.S. § 7538
Exemption from tax on capital stock and indebtedness
Known as the Cooperative Agricultural Association Law
The act spans §§ 15-7501 to 15-7538 (25 sections).
Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.