State and Local Taxation of Banks, Part III, Apendixes to a Report of a Study Under Public Law 91-156, Prepared by the Board Or Governors of the Federal Reserve System .... |
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Page xi
... adoption of State general sales taxes in States that used the tax January 1 , 1970 .. 302 15 . Dates of adoption of State income taxes in States that used the tax January 1 , 1970 ---- 303 16 . 17 . State and local real estate transfer ...
... adoption of State general sales taxes in States that used the tax January 1 , 1970 .. 302 15 . Dates of adoption of State income taxes in States that used the tax January 1 , 1970 ---- 303 16 . 17 . State and local real estate transfer ...
Page 38
... adopted a documentary tax or extended it to national banks subsequent to December 24 , 1969 , no bank in any of these additional States reported the change ( possibly because the tax is passed on to the customer and not absorbed by the ...
... adopted a documentary tax or extended it to national banks subsequent to December 24 , 1969 , no bank in any of these additional States reported the change ( possibly because the tax is passed on to the customer and not absorbed by the ...
Page 83
... adopted in Illinois in 1970 . There were also reports of some attempted changes in bank tax treatment which did not become effective . In Georgia , a bill to subject banks to net income taxes in addition to the shares tax ) was not en ...
... adopted in Illinois in 1970 . There were also reports of some attempted changes in bank tax treatment which did not become effective . In Georgia , a bill to subject banks to net income taxes in addition to the shares tax ) was not en ...
Page 85
... adoption of a tax based on the value of bank - owned intangibles . In Kansas , banks have been exempted from the shares tax because the State imposes on banks a tax measured by income and because an intangibles rate on bank stock was ...
... adoption of a tax based on the value of bank - owned intangibles . In Kansas , banks have been exempted from the shares tax because the State imposes on banks a tax measured by income and because an intangibles rate on bank stock was ...
Page 132
... adoption of this amendment , national banks in the State of Ohio were exempt from the 4 percent sales tax . The same situation existed regarding the franchise tax . . The replies from several States focused on bank taxes in the partic ...
... adoption of this amendment , national banks in the State of Ohio were exempt from the 4 percent sales tax . The same situation existed regarding the franchise tax . . The replies from several States focused on bank taxes in the partic ...
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Common terms and phrases
American Bankers Association applied assessed assets Bank deposits bank taxes Bankers banking associations bill California capital stock capital structure commercial banks Committee Congress Currency Dakota December 24 dividends Documentary excise tax exempt Federal Reserve System franchise tax Gross income gross receipts gross receipts tax Ibid imposed included income or receipts INSURED COMMERCIAL BANKS intangibles jurisdiction levied located Massachusetts Measure of tax ment Minnesota Miscellaneous deductible moneyed capital national bank shares National Tax Association net income North Carolina North Dakota out-of-State banks percent permanent amendment property taxes real estate real property reported revenue sales tax securities Senate share tax Shares or capital Stat statute Supreme Court Tangible personal property tax base tax expense tax national banks taxable taxation of banks taxation of national taxes on banks taxes on national tion Virginia York
Popular passages
Page 293 - ... (b) In the case of a tax on said shares the tax imposed shall not be at a greater rate than is assessed upon other moneyed capital in the hands of individual citizens of such State coming into competition with the business of national banks: Provided, That bonds, notes, or other evidences of indebtedness in the hands of individual citizens not employed or engaged in the banking or investment business and representing merely personal investments not made in competition with such business, shall...
Page 6 - ... income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency or possession thereof, or by any State, county, municipality or local taxing authority ; except that any real property of the corporation shall be subject to State, Territorial, county, municipal or local taxation to the same extent, according to its value, as other real property is taxed.
Page 1 - State, and that the shares of any national banking association owned by non-residents of any State shall be taxed in the city or town where the bank is located, and not elsewhere. Nothing herein shall be construed to exempt the real property of associations from either State, county, or municipal taxes, to the same extent, according to its value, as other real property is taxed.
Page 7 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 5 - That every Federal land bank and every national farm loan association, including the capital and reserve or surplus therein and the income derived therefrom, shall be exempt from Federal, State, municipal, and local taxation...
Page 145 - Provided, That nothing in this act shall be construed to prevent all the shares in any of the said associations, held by any person or body corporate, from being included in the valuation of the personal property of such person or corporation in the assessment of taxes imposed by or under State authority at the place where such bank is located, and not elsewhere...
Page 503 - That it is hereby declared to be the legislative intent that every person is exercising a taxable privilege who engages in the business of selling tangible personal property at retail...
Page 4 - State, subject only to the two restrictions, that the taxation shall not be at a greater rate than is assessed upon other moneyed capital in the hands of individual citizens of such State...
Page 6 - Corporation shall be exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States...
Page 518 - Congress hereby declares that the continued regulation and taxation by the several States of the business of insurance is in the public interest...