12 U.S. Code § 541 - Tax on circulating notes generally

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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.)

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.


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