§ 541. Tax on circulating notes generally

Latest version.

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.)

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.

                    
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