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12 U.S.C. § 531 — Exemption from taxation

submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 29 words · no verdicts yet

in plain englishAI-generated · not legal advice

Federal Reserve banks, including their capital, surplus, and income, are exempt from Federal, State, and local taxes except real-estate taxes.

Federal Reserve banks, their capital stock and surplus, and income from them are exempt from Federal, State, and local taxation, except taxes on real estate.

the actual law source: uscode.house.gov ↗public domain

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.

Source credit: (Dec. 23, 1913, ch. 6, § 7(c), 38 Stat. 258; Mar. 3, 1919, ch. 101, § 1, 40 Stat. 1314; Pub. L. 103–66, title III, § 3002(c)(2), Aug. 10, 1993, 107 Stat. 338.)

history & why it existsrecord from the source credit
  • 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 258
  • 1919Amended · Act of Mar. 3, 1919, ch. 101 · 40 Stat. 1314
  • 1993Amended · Pub. L. 103-66 · 107 Stat. 338

A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.

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