§ 14-143-121 - Exemption from taxation. - Arkansas Statutes

14-143-121. Exemption from taxation.

(a) Each authority shall be exempt from the payment of any taxes or fees to the state, or any subdivision thereof, or to any office or employee of the state, or of any subdivision thereof; however, each authority shall withhold and remit state income taxes as prescribed by 26-51-901 et seq.

(b) (1) The property of each authority shall be exempt from all local and municipal taxes.

(2) Bonds, notes, debentures, and other evidences of indebtedness of the authority are declared to be issued for a public purpose and to be public instrumentalities and, together with interest thereon, shall be exempt from all state, county, and municipal taxes, including, but without limitation, income, inheritance and estate taxes.