 | United States. Supreme Court - Courts - 1940 - 894 pages
...Land Banks shall be deemed "instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation." 39 Stat. 360, 380. We held that the state tax, as distinguished from a reasonable fee to meet the expenses... | |
 | United States. Court of Claims - Law reports, digests, etc - 1947 - 806 pages
...be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation." This Bank is organized under Section sixteen of the Federal Farm Loan Act, operates under the provisions... | |
 | Law - 1916 - 502 pages
...important in the discussion to follow that it is here set out in full. It is as follows: "Section 2(5. That every federal land bank and every national farm...reserve or surplus therein and the income derived be deemed and held to be instrumentalitie." of the Government of the United States, and as such they... | |
 | Ohio State Bar Association - Bar associations - 1916 - 294 pages
...be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation. "Nothing herein shall prevent the shares in any joint stock land bank from being included in the valuation... | |
 | Horace White - Banks and banking - 1911 - 576 pages
...United States and shall be similarly applied. 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. SEC. 8. Section fifty-one hundred and fifty-four,... | |
 | Virginius Gilmore Iden - Banks and banking - 1914 - 138 pages
...United States and shall be similarly applied. 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. SEC. 8. Section fifty-one hundred and fifty-four,... | |
 | Curtis Hillyer - Civil procedure - 1914 - 1628 pages
...similarly applied. Exemption from Taxation. — Federal reserve banks, including the capital stock and commission may from time to time prescribe the extent to which such carrier may be rel and local taxation, except taxes upon real estate. § 8. Conversion of State Banks.— Section 5154,... | |
 | John Thom Holdsworth - Banks and banking - 1914 - 464 pages
...United States and shall be similarly applied. 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. 8EC. 8. Section fifty-one hundred and fifty-four.... | |
 | Clarence Walker Barron - Banking law - 1914 - 232 pages
...shall be similarly applied. Federal reserve banks, including the capital stock and sur- If 55 plus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate. SEC. 8. Section fifty-one hundred and fifty-four,... | |
 | Dick Thompson Morgan - Agricultural credit - 1915 - 328 pages
...Section 29: " That every Federal land bank and every farm loan association, including the capital stock and reserve or surplus therein, and the income derived therefrom, shall be exempt from Federal, State, and local taxation, except taxes upon real estate held, purchased, or taken by the said bank under... | |
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Act, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation. 
