Title 12 — Banks and BankingRelease 119-73
§541 Tax on circulating notes generally
Title 12 › Chapter CHAPTER 4— - TAXATION › Subchapter SUBCHAPTER II— - NATIONAL BANK CIRCULATION › § 541
Full Legal Text
Title 12, §541
Banks and Banking — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 541
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73