§713a–5 Exemption of Commodity Credit Corporation and its obligations from taxation

Summary

Bonds, notes, debentures, and similar obligations the Commodity Credit Corporation issues under sections 713a–1 to 713a–5 are treated as U.S. government instruments. They and the income from them are exempt from federal, state, and local taxes, except for surtaxes and for estate, inheritance, and gift taxes. The Corporation itself—its franchise, capital, reserves, surplus, and income—is also exempt from taxes by federal, territorial, state, county, municipal, or local authorities. Any real property it owns is still taxed like other real property based on value.