12 U.S.C. § 2134 — Taxation

submitted 55 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 82 words · no verdicts yet

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A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

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

Each bank for cooperatives and its obligations are instrumentalities of the United States and as such any and all notes, debentures, and other obligations issued by such bank shall be exempt, both as to principal and interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States or any State, territorial, or local taxing authority, except that interest on such obligations shall be subject to Federal income taxation in the hands of the holder.

Source credit: (Pub. L. 92–181, title III, § 3.13, Dec. 10, 1971, 85 Stat. 608; Pub. L. 99–205, title II, § 205(e)(10), Dec. 23, 1985, 99 Stat. 1705; Pub. L. 100–233, title VIII, § 805(p), Jan. 6, 1988, 101 Stat. 1716.)

history & why it existsrecord from the source credit

1971Enacted · Pub. L. 92-181 · 85 Stat. 608
1985Amended · Pub. L. 99-205 · 99 Stat. 1705
1988Amended · Pub. L. 100-233 · 101 Stat. 1716

A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1971-12-10.

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