17:48-18 - Corporation as charitable and benevolent institution; exemption from taxation
17:48-18. Corporation as charitable and benevolent institution; exemption from taxation
Every corporation subject to the provisions of this chapter is hereby declared to be a charitable and benevolent institution and all of its funds shall be exempt from every State, county, district, municipal and school tax other than taxes on real estate and equipment.
L.1938, c. 366, p. 939, s. 18.