§ 142-92. Tax exemption. - North Carolina Statutes

§ 142‑92.  Taxexemption.

Special indebtedness shall atall times be free from taxation by the State or any political subdivision orany of their agencies, excepting estate, inheritance, and gift taxes; incometaxes on the gain from the transfer of the indebtedness; and franchise taxes.The interest component of any payments made by the State under specialindebtedness, including the interest component of any certificates ofparticipation, is not subject to taxation as to income. (2003‑284, s. 46.2;2003‑314, s. 1; 2004‑203, s. 79.)