State Taxation of National Banks: Hearings Before the Committee on Banking and Currency, House of Representatives, on H.R. 9579, a Bill to Amend Section 5219 of the Revised Statutes of the United StatesU.S. Government Printing Office, 1922 |
Common terms and phrases
amendment amount assessed authority bank stock banking associations banking business banks and trust basis BLODGETT branch banking burden capital stock cent CHAIRMAN charter classification committee Congress corporations deposits discrimination DIVET dividends DUNBAR DUPUIS earnings exempt fact FAIRCHILD FAVINGER Federal reserve system franchise gentlemen hands of individuals HOUGH institutions intangible property invested J. P. Morgan KNAPP legislation legislature LESER levied limitation litigation loans LORD LUCE LYONS Maryland Massachusetts McFadden bill moneyed capital moneys and credits North Dakota paid personal property president private bankers property tax protection question real estate real property Richmond decision SAXE shareholders shares of national shares of stock situation statement STEVENSON stockholders Supreme Court surplus TAX COMMISSION tax commissioners tax national banks taxation of national thing tion trust companies undivided profits United validating clause WINGO Wisconsin York
Popular passages
Page 217 - 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, 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.
Page 215 - Nothing herein shall prevent the shares in any joint stock land bank from being included in the valuation of the personal property of the owner or holder of such shares...
Page 112 - 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 112 - Nothing herein shall prevent all the shares in any association from being included in the valuation of the personal property of the owner or holder of such shares, in assessing taxes imposed by authority of the State within which the association is located...
Page 149 - This opinion does not deprive the states of any resources which they originally possessed. It does not extend to a tax paid by the real property of the bank in common with the other real property within the state, nor to a tax imposed on the interest which the citizens of Maryland may hold in this institution, in common with other property of the same description throughout the state.
Page 70 - 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 73 - ... its business is money, where the object of the business is the making of profit by its use as money. The moneyed capital thus employed is invested for that purpose in securities by way of loan, discount, or otherwise, which are from time to time, according to the rules of the business, reduced again to money and reinvested. It includes money in the hands of individuals employed in a similar way, invested in loans, or in securities for the payment of money, either as an investment of a permanent...
Page 70 - State authority, at the place where such bank is located, and not elsewhere, but not at a greater rate than is assessed upon other moneyed capital in the hands of individual citizens of such State...
Page 243 - ... (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.
Page 47 - 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, except taxes upon real estate...