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Tex. Transportation Code § 431.033

EXEMPTION FROM TAXATION

Texas · Texas Transportation Code · Status: effective

Taxation
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Tex. Transportation Code § 431.033, EXEMPTION FROM TAXATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/570475
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A corporation affects all the people in its area by assuming to a material extent what otherwise might be an obligation or duty of the commission and is a purely public charity under Section 2, Article VIII, Texas Constitution. However, a corporation is exempt from the franchise tax under Chapter 171, Tax Code, only if the corporation is exempted by that chapter.