State and Local Taxation of Insured Banks: Hearings, Ninety-second Congress, Second Session, on S. 3652 ...U.S. Government Printing Office, 1972 - 191 pages |
Common terms and phrases
100-percent insurance ad valorem taxes American Bankers Association amount assets authority Bank & Trust banking office banking system bill Board of Governors business corporations CHAIRMAN Committee on Banking CONGRESS THE LIBRARY credit unions Currency depositary institutions depositor discrimination effect enactment exempt FDIC Federal Deposit Insurance Federal Reserve Board Federal Reserve System financial institutions Florida franchise tax FSLIC holding company House imposed income tax insurance of public insured banks insured commercial banks insured institution intangible personal property intangibles tax interest JOHN SPARKMAN jurisdiction legislation LIBRARY OF CONGRESS limit loan associations MAISTRE ment million MITCHELL municipal mutual savings banks obligations out-of-State banks political subdivision prohibit property tax proposal public deposits public funds Public Law public units recommendation regulations restrictions savings and loan securities Senator PROXMIRE service corporation SHUFORD statement statute tax base tax on intangible taxation of banks taxation of intangibles tion Treasury
Popular passages
Page 86 - Five members who are members of the Committee on Banking and Currency of the House of Representatives, three from the majority and two from the minority party, to be appointed by the chairman of the committee.
Page 53 - I do not think the United States would come to an end if we lost our power to declare an Act of Congress void. I do think the Union would be imperiled if we could not make that declaration as to the laws of the several States.
Page 104 - The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Federal Home Loan Bank Board...
Page 120 - Congress has not extended its protection and control to the field of taxation, although I take it no one denies that constitutionally it may do so. It may exact a single uniform federal tax on the property or the business to the exclusion of taxation by the states. It may subject the vehicles or other incidents to any type of state and local taxation, or it may declare them tax-free altogether.
Page 99 - For the purposes of any tax law enacted under authority of the United States or any State, a national bank shall be treated as a bank organized and existing under the laws of the State or other jurisdiction within which its principal office is located.
Page 124 - But it does not follow from this that the Court is powerless to examine the entire transaction, of which that contract is but a part, in order to determine whether there may be a chain of events which becomes interstate commerce. Only by treating the Congressional power over commerce among the states as a 'technical legal conception' rather than as a 'practical one, drawn from the course of business' could such a conclusion be reached.
Page 29 - ... operations, now vested in the Federal Open Market Committee, should be placed in the same body.) (c) Authorize the Federal Open Market Committee to change reserve requirements for central reserve city banks, or for reserve city banks, or for country banks, or for any combination of these three classes. (d) Make reserve requirements applicable to all banks receiving demand deposits regardless of whether or not they are members of the Federal Reserve System.
Page 107 - Board") shall make a study to determine the probable impact on the banking systems and other economic effects of the changes in existing law to be made by section 2 of this Act governing income taxes, intangible property taxes, so-called doing business taxes, and any other similar taxes which are or may be imposed on banks.
Page 54 - Congress, under which the Congress has enacted the National Bank Act, the Federal Reserve Act. the Federal Deposit Insurance Act, and other legislation under which our dual banking system carries out the constitutional function of providing the Nation's money supply.
Page 87 - An institution organized under the laws of the United States, any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which...