FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER II—NATIONAL BANK CIRCULATION
Tax on circulating notes generally
12 U.S.C. § 541
Title12 — Banks and Banking
ChapterSUBCHAPTER II—NATIONAL BANK CIRCULATION
This text of 12 U.S.C. § 541 (Tax on circulating notes generally) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 541.
Text
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.
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Related
United States v. Simpson
885 F.2d 36 (Third Circuit, 1989)
Source Credit
History
(R.S. §5214; Mar. 3, 1883, ch. 121, §1, 22 Stat. 488.)
Editorial Notes
Editorial Notes
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.
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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Bluebook (online)
12 U.S.C. § 541, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/541.