O.C.G.A.
O.C.G.A.

O.C.G.A. § 48-6-91 (2019)

Exemption for domestic international banking facilities

✓ O.C.G.A.: 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Domestic international banking facilities operating in this state pursuant to Article 5A of Chapter 1 of Title 7, the “Domestic International Banking Facility Act,” and engaging only in those activities authorized pursuant to that article shall not be deemed to maintain a place of business in this state and shall not be subject to any state or local tax, license, or fee solely because of such activities.

History

Ga. L. 1927, p. 56, § 12; Code 1933, § 92-2407; Ga. L. 1935, p. 11, § 12; Code 1933, § 92-2406.1, enacted by Ga. L. 1975, p. 147, § 2; Ga. L. 1976, p. 405, § 8;

Code 1933, § 91A-3302, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1983, p. 1350, § 6; Ga. L. 1984, p. 22, § 48; Ga. L. 1996, p. 181, § 3.

Annotations

Editor's notes. - Ga. L. 1996, p. 181, § 10, not codified by the General Assembly, provides for a study and report by the state revenue commissioner regarding the effect of the Act on revenue received by the state, counties, and cities in 1997 and 1998 from the tax imposed by Article 4 of Chapter 6 of Title 48 of the Code.

RESEARCH REFERENCES

Am. Jur. 2d. - 71 Am. Jur. 2d, State and Local Taxation, § 352.

C.J.S. - 84 C.J.S., Taxation, §§ 475 et seq., 620 et seq.