Public Law 119-102 (07/12/2026)

12 U.S.C. § 541

Tax on circulating notes generally

Section text and notes

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.

Mar. 3, 1883, ch. 121, § 1 22 Stat. 488 (R.S. § 5214; , .)

Editorial Notes

Codification

act June 3, 1864, ch. 106, § 41 13 Stat. 111 section 38 of this titleR.S. § 5214 derived from , , which was part of the National Bank Act. See .