A nonprofit corporation organized solely to promote the public interest of a county, city, town, or another area in the state is exempted from the franchise tax.
Official text of the Texas Tax Code as published by the Texas Legislative Council.
Tax Code › Title 2 › Chapter 171 › Subchapter B
Texas Tax Code § 171.057
Exemption--Nonprofit Corporation Organized to Promote County, City, or Another Area
Franchise Tax · Exemptions
Legislative history
Acts 1981, 67th Leg., p. 1694, ch. 389, Sec. 1, eff. Jan. 1, 1982.