Code of Alabama — Title 40 (Revenue and Taxation)

Ala. Code § 40-9-32 — Exemption of Shares in Corporations from Ad Valorem Tax

Shares of stock in corporations or associations incorporated under the laws of this state or otherwise shall be exempt from ad valorem taxation in this state.

Last amended: Act 99-665, 2nd Sp. Sess., p. 131, §8.

Source: official text