The Maryland state assembly issued a "stamp tax" requiring banks, including the Baltimore branch of the Second National Bank, to pay for special stamped paper. James McCulloch, a cashier for the Baltimore branch, was sued for not complying. The Supreme Court ruled 7-0 that Maryland did not have the right to tax the national bank, established by Congress to carry out its constitutional powers, setting the precedent that states cannot tax federal institutions.
The Maryland state assembly issued a "stamp tax" requiring banks, including the Baltimore branch of the Second National Bank, to pay for special stamped paper. James McCulloch, a cashier for the Baltimore branch, was sued for not complying. The Supreme Court ruled 7-0 that Maryland did not have the right to tax the national bank, established by Congress to carry out its constitutional powers, setting the precedent that states cannot tax federal institutions.
The Maryland state assembly issued a "stamp tax" requiring banks, including the Baltimore branch of the Second National Bank, to pay for special stamped paper. James McCulloch, a cashier for the Baltimore branch, was sued for not complying. The Supreme Court ruled 7-0 that Maryland did not have the right to tax the national bank, established by Congress to carry out its constitutional powers, setting the precedent that states cannot tax federal institutions.
The Maryland state assembly issued a "stamp tax" requiring banks, including the Baltimore branch of the Second National Bank, to pay for special stamped paper. James McCulloch, a cashier for the Baltimore branch, was sued for not complying. The Supreme Court ruled 7-0 that Maryland did not have the right to tax the national bank, established by Congress to carry out its constitutional powers, setting the precedent that states cannot tax federal institutions.
D. M. Maxwell, Jr. v. The First National Bank of Monroeville, Monroe County Bank, and Joe Watley, As President of The First National Bank of Monroeville, 638 F.2d 32, 1st Cir. (1981)
