Present law prohibits all corporations organized as subsidiaries and controlled by an agricultural cooperative association formed in accordance with the laws of this state from being considered corporations organized for profit and doing business in this state, or subject to any privilege tax levied by any law as a tax for the privilege of doing business for profit in this state. This bill expands this provision to also apply to limited liability companies, limited liability partnerships, or other legal entities, associations, or bodies vested with the power or function of a legal entity, so organized.

Statutes affected:
Introduced: 43-16-148