Email: Chapter 11, Article 23, Section 1
§11-23-1. Legislative finding.
This business franchise tax on corporations and partnerships is enacted pursuant to the provision of article X, section one of the Constitution of this state, granting to the Legislature the authority to tax privileges, franchises and incomes of persons and corporations. The Legislature finds and declares that this franchise tax is imposed on the privilege of doing business in this state, and that this tax is not an ad valorem property tax imposed on the property of corporations and partnerships doing business in this state.