Tax Type
Property Tax
Description
Taxes Levied on Banks, Taxes on Utilities
Topic
Property Subject to Tax
Date Issued
02-20-1970
Taxes imposed upon the capital of any bank are prohibited by §58-466, Code. Personal property is specifically treated as part of "capital;' thus, personal property taxes on banks are also prohibited.
Taxes imposed upon the capital of any bank are prohibited by §58-466, Code. Personal property is specifically treated as part of "capital;' thus, personal property taxes on banks are also prohibited.
Localities may now impose utilities taxes upon State and national banks, pursuant to P. L. 91-156.
Attorney General's Opinion