State Taxation of National Banks: Hearing, Feb. 4, 1931U.S. Government Printing Office, 1930 |
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according aggregate amend section 5219 American Bankers assets asso bank tax bank taxation Banking and Currency banking associations located BEEDY BLODGETT bonds building and loan business corporations California cent CHAIRMAN ciations competition Congress Connecticut decision deposits dividends from national evidences of indebtedness excise tax exemption Federal financial corporations fourth method franchise Goodwin bill higher House of Representatives imposes a tax includes dividends institutions insurance companies intangible investment JAMES legislature loan associations LUCE manufacturing MATTISON MCFADDEN measured mercantile MIKE HOLM Minnesota moneyed capital mortgages mutual savings banks MYLANDER national banking associations net income Ohio president proposed amendment question rate assessed real estate real property Revised Statutes savings and loan Senate shareholders shares of national specific tax statement stockholders SULLIVAN surplus Tax Commission tax national banks tax on shares taxation of national taxes imposed taxes paid thereof tion undivided profits United States Revised WASHBURN Washington
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191. lappuse - 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.
176. lappuse - ... 3. Nothing herein shall be construed to exempt the real property of associations from taxation in any State or in any subdivision thereof, to the same extent, according to its value, as other real property is taxed.
175. lappuse - ... (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...
180. lappuse - States, and a bill embodying such compromise was presented to the Committee on Banking and Currency of the House of Representatives on May...
193. lappuse - Provided, however, That a State which imposes a tax on or according to or measured by the net income of, or a franchise or excise tax on, financial, mercantile, manufacturing, and business corporations organized under its own laws or laws of other States and also imposes a tax upon the income of individuals, may include in such individual income dividends from national banking associations located within the State on condition that it also includes dividends from domestic corporations and may likewise...
289. lappuse - 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.
194. lappuse - ... but the rate shall not be higher than the rate assessed upon other financial corporations nor higher than the highest of the rates assessed by the taxing State upon mercantile, manufacturing, and business corporations doing business within its limits: Provided, however, That a State which imposes a tax on or according to or measured by the net income of...
194. lappuse - In case of a tax on or according to or measured by the net income of an association, the taxing State may, except in case of a tax on net income, include the entire net income received from all sources...
194. lappuse - The legislature of each State may determine and direct, subject to the provisions of this section, the manner and place of taxing all the shares of national banking associations located within its limits.
192. lappuse - State within which the association is located: but the legislature of each State may determine and direct the manner and place of taxing all the shares of national banking associations...