1. McCulloch v. Maryland.
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CONSTITUTIONAL law , *HISTORY of banking laws , *UNITED States history , *FEDERAL-state controversies , *BANKING industry tax laws , *TAX laws ,MCCULLOCH v. Maryland ,1817-1825 ,MARYLAND state history - Abstract
The article presents the text of the case McCulloch v. Maryland, presented before the U.S. Supreme Court in February of 1819, regarding the right of Maryland to tax banks. It is admitted by the parties in the case that the Congress of the United States passed an act to incorporate the subscribers to the Bank of the United States, that the State of Maryland then passed an act intended to impose a tax on all banks, and that the President, Directors and Company of the Bank of the United States opened a branch in Maryland where it performed operations customary for banks to do, without authority from the State of Maryland to do so as defined in Maryland's act. The case concerns the validity of Maryland's law to tax banks, when the U.S. act to incorporate the Bank of the United States grants banks the right to establish in any state without being taxed. The judgment concludes that Maryland's act to tax banks is contrary to the U.S. Constitution and therefore void.
- Published
- 2017