Legislation
SECTION 31
Tax on production credit associations
General City Model 772/66 (GCM) CHAPTER 772, PART 3, SUBPART 2
§ 31. Tax on production credit associations. Pursuant to the authority
conferred by the federal farm credit act of nineteen hundred
thirty-three, every production credit association organized under the
authority of the United States and located within the city after the
stock held in it by the federal production credit corporation has been
retired shall annually pay a tax measured by its net income, which shall
be computed in the same manner as the tax imposed upon national banking
associations by section twenty-three and shall be subject to the
provisions of sections twenty-four to thirty inclusive.
conferred by the federal farm credit act of nineteen hundred
thirty-three, every production credit association organized under the
authority of the United States and located within the city after the
stock held in it by the federal production credit corporation has been
retired shall annually pay a tax measured by its net income, which shall
be computed in the same manner as the tax imposed upon national banking
associations by section twenty-three and shall be subject to the
provisions of sections twenty-four to thirty inclusive.