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Georgia Amendment 11, Subsidiary Corporation Stock Tax Exemption Measure (August 1943)
| Georgia Amendment 11 | |
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| Election date |
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| Topic Property tax exemptions |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Georgia Amendment 11 was on the ballot as a legislatively referred constitutional amendment in Georgia on August 3, 1943. It was approved.
A "yes" vote supported exempting from ad valorem and intangibles taxes the common voting stock of a subsidiary corporation that is at least 90% owned by a Georgia-based corporation. |
A "no" vote opposed exempting from ad valorem and intangibles taxes the common voting stock of a subsidiary corporation that is at least 90% owned by a Georgia-based corporation. |
Election results
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Georgia Amendment 11 |
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| Result | Votes | Percentage | ||
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44,942 | 77.12% | ||
| No | 13,330 | 22.88% | ||
Text of measure
Ballot title
The ballot title for Amendment 11 was as follows:
| “ | FOR ratification of Amendment to Article 7, Section 2, Paragraph 2, of the Constitution, exempting from Ad Valorem and Intangibles Taxes the common voting stock of a subsidiary corporation, at least 90% of which is owned by a Georgia corporation with its principal place of business in this State. AGAINST ratification of Amendment to Article 7, Section 2, Paragraph 2, of the Constitution, exempting from Ad Valorem and Intangibles Taxes the common voting stock of a subsidiary corporation, at least 90% of which is owned by a Georgia corporation with its principal place of business in this State. | ” |
Path to the ballot
- See also: Amending the Georgia Constitution
A two-thirds (66.67%) vote is required during one legislative session for the Georgia State Legislature to place an amendment on the ballot. That amounts to a minimum of 120 votes in the Georgia House of Representatives and 38 votes in the Georgia State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
Footnotes
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