 | United States. Congress. House. Committee on Banking and Currency - 1923 - 290 halaman
...act as to Federal farmloan bonds, and such bonds shall be deemed and held to be instrumentalities of the Government of the United States, and, as such, they and the income derived thereon shall be exempt from Federal, State, municipal, and local taxation. "Each Federal land bank... | |
 | United States - 1924 - 36 halaman
...bonds issued under the provisions of this Act. shall be deemed and held to be instrumentalities of the Government of the United States, and as such they...from Federal, State, municipal, and local taxation. Nothing herein shall prevent the shares in any joint stock land bank from being included in the valuation... | |
 | United States. Congress. Senate. Committee on the Judiciary - 1924 - 66 halaman
...corporation. The corporation and all of its assets shall be deemed and held to be instrumentalities of the United States and as such they and the income...derived therefrom shall be exempt from Federal, State, and local taxation. The directors, officers, attorneys, experts, assistants, clerks, agents, and other... | |
 | William Stull Holt - 1924 - 178 halaman
...bank and every national farm loan association, including the capital and reserve or surplus therein and the income derived therefrom, shall be exempt...Federal, State, municipal, and local taxation, except taxes upon real estate held, purchased, or taken by said bank or association under the provisions of... | |
 | United States. Supreme Court - 1924 - 748 halaman
...Land Banks shall be deemed — "instrumentalities of the government of the United States, and as euch they and the income derived therefrom shall be exempt...from federal, state, municipal, and local taxation." 39 Stat. 360, 380 (Сотр. St. § 9S35q). The validity of this provision is not questioned. Smith... | |
 | 1924 - 200 halaman
...loan bonds and mortgages executed to federal land banks were declared to be " instrumentalities of the Government of the United States," and as such they and the income derived from them were to be exempt from federal, state, municipal, and local taxation." Joint Stock Land Banks.... | |
 | 1924 - 180 halaman
...loan bonds and mortgages executed to federal land banks were declared to be " instrumentalities of the Government of the United States," and as such they and the income derived from them were to be exempt from federal, state, municipal, and local taxation." Joint Stock Land Banks.... | |
 | United States. Department of Justice - 1926 - 686 halaman
...bank and every national farm loan association, including the capital and reserve or surplus therein and the income derived therefrom, shall be exempt...Federal, State, municipal, and local taxation, except taxes upon real estate held, purchased, or taken by said bank or association under the provisions of... | |
 | Henry Parker Willis, William Howard Steiner - 1926 - 1202 halaman
...estate. 7. Tax exemption (section 26) : Farm loan bonds are deemed and held to be instrumentalities of the Government of the United States, and as such they and the income therefrom are exempt from Federal, state, municipal, and local taxation. The Board early called attention... | |
 | United States - 1927 - 612 halaman
...bonds issued under the provisions of this chapter, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they...from Federal, State, municipal, and local taxation. (July 17, 1916, c. 245, § 26, 39 Stat. 380.) Notes of Decisions 1. Constitutionality. — As Congress... | |
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Federal land banks, or to joint stock land banks, and farm loan bonds issued under the provisions of this Act, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall... 
