152.055 – LIABILITY OF CORPORATE PROPERTY FOR TAXES AND
Texas Water Code § 152.055
Summary
This law establishes that corporate property is subject to state and local taxes, ensuring that corporations are not exempt from financial obligations to municipalities. It affects corporations formed under the specified section, holding them accountable for taxes and special assessments.
Corporate property is taxable by state and local governments.
No exemptions for corporations from taxes or assessments.
Applies specifically to corporations created under Section 152.051.
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In simple terms: Learn about Texas's LIABILITY OF CORPORATE PROPERTY FOR TAXES AND law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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