Arizona § 40-1118 - Exemption from taxation
Full text of Arizona Arizona Revised Statutes § 40-1118 — Exemption from taxation, with citation guidance and answers to common questions.
§ 40-1118. Exemption from taxation
A. The title to all property acquired under the provisions of this article shall immediately and by operation of law vest in such transit authority, in its corporate name, and is dedicated and set apart for the uses and purposes set forth in this article, and shall be exempt from all taxation, including sales, gross receipts, motor vehicle registration fees, and any use taxes, provided the authority shall not be authorized to acquire title to any property other than property used for transportation purposes or directly connected therewith.
B. Bonds issued pursuant to article 4 of this chapter, their transfer and income therefrom shall at all times be free from taxation within the state.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 40-1118
What does Arizona Revised Statutes § 40-1118 cover?
Section 40-1118 ("Exemption from taxation") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 40-1118?
A common citation format is "Arizona Revised Statutes § 40-1118" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 40-1118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.