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 v
... Banks ( by Sally M. Hey ) . Appendix 6 - The History and Impact of Section 5219 on the Taxation of National Banks ( by Simeon E. Leland ) . Appendix 7 - Economic Impacts of Particular State and Local Taxes on Banks , with Special ...
... Banks ( by Sally M. Hey ) . Appendix 6 - The History and Impact of Section 5219 on the Taxation of National Banks ( by Simeon E. Leland ) . Appendix 7 - Economic Impacts of Particular State and Local Taxes on Banks , with Special ...
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... National versus State - chartered banks . National banks accounted for 57 percent of total State - local tax expense of all insured commercial banks in 1969 a slightly smaller percentage than the national bank share of the banking ...
... National versus State - chartered banks . National banks accounted for 57 percent of total State - local tax expense of all insured commercial banks in 1969 a slightly smaller percentage than the national bank share of the banking ...
Page 21
... national banks were applied only to State - chartered banks , without any offsetting adjustment to equalize burden . While section 5219 restrictions account in part for the higher tax ratios for State than national banks , structural ...
... national banks were applied only to State - chartered banks , without any offsetting adjustment to equalize burden . While section 5219 restrictions account in part for the higher tax ratios for State than national banks , structural ...
Page 30
... national banks imposed by the Congress in section 5219 of the Revised Statutes . Prior to December 1969 , the States were permitted use of only two basic methods of taxing national banks , apart from taxation of their real property ...
... national banks imposed by the Congress in section 5219 of the Revised Statutes . Prior to December 1969 , the States were permitted use of only two basic methods of taxing national banks , apart from taxation of their real property ...
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... national banks , higher rates or other special provisions were in some instances applied to national banks as a device to equalize burdens . Data relating to the distribution of taxes between national and State banks are examined in the ...
... national banks , higher rates or other special provisions were in some instances applied to national banks as a device to equalize burdens . Data relating to the distribution of taxes between national and State banks are examined in the ...
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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...