*This information is for Model City Tax Code purposes only
Local Option T
Exempt certain rental to subsidiaries. Replace Sec. ___-445(i) with:
(i) Exempt from the tax imposed by this Section is gross income derived from the rental, leasing, or licensing of real property to a corporation; provided that the lessor's aggregate holdings in the lessee corporation amount to at least eighty percent (80%) of the voting stock of the lessee corporation.
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