Tax on circulating notes generally

  1. Law
  2. USC 12
  3. Banks And Banking
  4. TAXATION
  5. NATIONAL BANK CIRCULATION
  6. Tax on circulating notes generally

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§541. Tax on circulating notes generally

In lieu of all existing taxes, every association shall pay to the Treasurer of the United States, in the months of January and July, a duty of one-half of 1 per centum each half year upon the average amount of its notes in circulation.

(R.S. §5214; Mar. 3, 1883, ch. 121, §1, 22 Stat. 488 .)

Codification

R.S. §5214 derived from act June 3, 1864, ch. 106, §41, 13 Stat. 111 , which was part of the National Bank Act. See section 38 of this title.


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