Chase Manhattan Bank, N. A. v. Finance Administration of New York

Petitioners are national banks that lease office space in New York City, where they maintain their principal places of business. After the city assessed them for its commercial rent and occupancy tax for the period June 1, 1970, through May 31, 1972, they brought the present action, arguing that their status as national banks rendered them immune from the tax. Petitioners relied on our cases that have held that national banks may not be taxed except as permitted by Congress. First Agricultural Bank v. State Tax Comm’n, 392 U. S. 339 (1968); McCulloch v. Maryland, 4 Wheat. 316, 436-437 (1819).…