TITLE 12 - US CODE - SUBCHAPTER II - NATIONAL BANK CIRCULATION
12 USC 541 - Tax on circulating notes generally
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.
Section, act Dec. 21, 1905, ch. 3, 1, 34 Stat. 5, related to tax on circulating notes secured by Panama Canal 2 per centum bonds and rights and privileges of such bonds.