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Document Type

Peach Sheet

Abstract

The Act adds a definition to the Revenue Code for &"domesticated foreign corporation,&" amends the Code section relating to taxation of personal property exempting stock of a foreign subsidiary held by a foreign parent corporation, and adds an exemption from the intangible property tax by adding a new subsection exempting stock held in a foreign corporation which was a party to a reorganization with a Georgia corporation. July 1, 1987

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