[USC02] 12 USC 541: Tax on circulating notes generally
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12 USC 541: Tax on circulating notes generally Text contains those laws in effect on June 3, 2020
From Title 12-BANKS AND BANKINGCHAPTER 4-TAXATIONSUBCHAPTER II-NATIONAL BANK CIRCULATION

§541. Tax on circulating notes generally

In lieu of all existing taxes, every association shall pay to the Treasurer of the United States, in the months of January and July, a duty of one-half of 1 per centum each half year upon the average amount of its notes in circulation.

(R.S. §5214; Mar. 3, 1883, ch. 121, §1, 22 Stat. 488 .)

Codification

R.S. §5214 derived from act June 3, 1864, ch. 106, §41, 13 Stat. 111 , which was part of the National Bank Act. See section 38 of this title.