CHAPTER 4 - TAXATION
Title 12 > CHAPTER 4
Sections (7)
§ 531 Exemption from taxation
Federal reserve banks, including the capital stock and surplus therein and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate. ( Dec. 23, 1913, ch. 6, § 7(c) , 38 Stat. 258 ; Mar. 3, 1919, ch. 101, § 1 , 40 Stat. 1314 ; Pub. L. 103–66, title III, § 3002(c)(2) , Aug. 10, 1993 , 107 Stat. 338 .)
§ 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 .)
§ 542 Omitted
§ 543 Repealed. Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068
§§ 544 to 547 Omitted
§ 548 State taxation
For the purposes of any tax law enacted under authority of the United States or any State, a national bank shall be treated as a bank organized and existing under the laws of the State or other jurisdiction within which its principal office is located. (R.S. § 5219; Mar. 4, 1923, ch. 267 , 42 Stat. 1499 ; Mar. 25, 1926, ch. 88 , 44 Stat. 223 ; Pub. L. 91–156 , §§ 1(a), 2(a), Dec. 24, 1969 , 83 Stat. 434 .)