FEDERAL · 31 U.S.C. · Chapter SUBCHAPTER V—MISCELLANEOUS
State taxation
31 U.S.C. § 5154
Title31 — Money and Finance
ChapterSUBCHAPTER V—MISCELLANEOUS
This text of 31 U.S.C. § 5154 (State taxation) 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
31 U.S.C. § 5154.
Text
A State or a territory or possession of the United States may tax United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) as money on hand or on deposit in the same way and at the same rate that the State, territory, or possession taxes other forms of money. This section does not affect a law taxing national banks.
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Related
Protest of Great Plains Federal Savings & Loan Ass'n v. Oklahoma Tax Commission
743 P.2d 640 (Supreme Court of Oklahoma, 1987)
Source Credit
History
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 992; Pub. L. 97–452, §1(22), Jan. 12, 1983, 96 Stat. 2477.)
Editorial Notes
The words "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks)" are substituted for "Circulating notes of national banking associations and United States legal tender notes and other notes and certificates of the United States payable on demand and circulating or intended to circulate as currency and gold, silver, or other coin" in 31:425 to eliminate unnecessary words and for consistency with section 5103 of the revised title.
1983 Act
This restates 31:5154 to clarify the intent of the section. See 26 Cong. Rec. 7152, 7170 (1894).
Editorial Notes
Amendments
1983—Pub. L. 97–452 substituted "other forms of money" for "United States coins and currency circulating within its jurisdiction".
Statutory Notes and Related Subsidiaries
Effective Date of 1983 Amendment
Amendment effective Sept. 13, 1982, see section 2(i) of Pub. L. 97–452, set out as a note under section 3331 of this title.
1983 Act
This restates 31:5154 to clarify the intent of the section. See 26 Cong. Rec. 7152, 7170 (1894).
Editorial Notes
Amendments
1983—Pub. L. 97–452 substituted "other forms of money" for "United States coins and currency circulating within its jurisdiction".
Statutory Notes and Related Subsidiaries
Effective Date of 1983 Amendment
Amendment effective Sept. 13, 1982, see section 2(i) of Pub. L. 97–452, set out as a note under section 3331 of this title.
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Bluebook (online)
31 U.S.C. § 5154, Counsel Stack Legal Research, https://law.counselstack.com/usc/31/5154.