Notwithstanding any general or special law or any certificate of incorporation, charter, or other articles of organization, all domestic or domesticated corporations, associations, and other taxable entities carrying on business in this state and any person are authorized to make contributions of money, property, or other thing of value to the corporation for any of its corporate purposes; and the value thereof shall be allowed as a deduction in computing the taxable income of the donor for the purpose of any income tax imposed by the state or by any political subdivision of the state.
(Ga. L. 1964, p. 735, § 10; Ga. L. 1965, p. 217, § 11; Code 1933, § 32-3326, enacted by Ga. L. 1980, p. 835, § 2.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 71 Am. Jur. 2d, State and Local Taxation, §§ 489, 516.
C.J.S.- 85 C.J.S., Taxation, § 1219.