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This entry was published on 2014-09-22
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SECTION 3
Exemption from certain taxes granted to certain corporations engaged in the operation of vessels in foreign commerce
Tax (TAX) CHAPTER 60, ARTICLE 1
§ 3. Exemption from certain taxes granted to certain corporations
engaged in the operation of vessels in foreign commerce. All
corporations incorporated under the laws of the state of New York,
exclusively engaged in the operation of vessels in foreign commerce, are
exempted from all taxation in this state, for state and local purposes,
upon their capital stock, franchises and earnings.