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District of Columbia Code Division VIII. General Laws. § 47-4668. BID corporation--tax exemptions.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)(1) Except as provided in subsection (b) of this section, a BID corporation, as defined in § 2-1215.02(4), its real and personal property, income, and transactions, shall be exempt from District taxation, including, without limitation, sales, use, franchise, gross sales or receipts, income, personal or real property, transfer, or excise taxes.

(2) A BID corporation shall obtain a certificate of exemption from the Mayor, as required by law or regulation.

(b) A BID corporation shall not be exempt from employment or withholding taxes.

(c) The Council orders that all unpaid taxes described in subsection (a)(1) of this section, including any interest, penalties, fees, and other related charges assessed from May 29, 1996, through the effective date of this section be forgiven.

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Cite this article: FindLaw.com - District of Columbia Code Division VIII. General Laws. § 47-4668. BID corporation--tax exemptions. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-viii-general-laws/dc-code-sect-47-4668/

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