§ 11-4-201. EXEMPTIONS.

The tax imposed under this subtitle does not apply:

(1)

To the United States or its political subdivisions;

(2)

To the state or its political subdivisions;

(3)

To the county or its political subdivisions; and

(4)

If no part of the net income of the following inures to private shareholders or individuals, to hospitals, religious, charitable, scientific, literary, educational, fraternal, or benevolent institutions, civic improvement associations, service clubs, volunteer fire companies, or youth organizations.

(1988 Code, § 33-202) (Bill No. 33-03, § 2, 7-1-2004)