Section 23Sec./Art. 23

Tax Provision. The grantee, its successors or assignees, shall be liable to pay the same taxes on their real estate, buildings and personal property, as other persons or corporations which are now or hereafter may be required by law to pay. The grantee, its successors or assignees, shall continue to be liable for income taxes payable under Title II of the National Internal Revenue Code. In no case shall the income taxes due from the grantee, its successors or assignees, be passed on to its consumers.

The grantee shall file the return with and pay the tax due thereon to the Commissioner of Internal Revenue or his duly authorized representative in accordance with the National Internal Revenue Code and the return shall be subject to audit by the Bureau of Internal Revenue.