Legal Opinion
Opinion No.
Arkansas Attorney General Reports
Decided January 10, 2003Published
1Opinion of the Court
The Honorable Brent Davis, Prosecuting Attorney Second Judicial Circuit Post Office Box 491 Jonesboro, AR 72403
Dear Mr. Davis:
I am writing in response to your request for my opinion on the following question:
Are Federal Land Banks exempt from Arkansas Personal Property Tax as to the furniture, fixtures and equipment owned by them and located within the local office?
RESPONSE
As federal instrumentalities, land banks are immune from state and local taxation pursuant to the Supremacy Clause, U.S. Const. art. VI, cl.2, unless Congress expressly waives that immunity. Although Congress has waived the…
2Cases cited8 opinions
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
- Department of Employment v. United StatesSupreme Court of the United States · 1966
- Arkansas v. Farm Credit Services of Central ArkansasSupreme Court of the United States · 1997
- Federal Reserve Bank of St. Louis, a United States Corporation v. Metrocentre Improvement District 1, City of Little Rock, ArkansasCourt of Appeals for the Eighth Circuit · 1981
- Director of Revenue of Missouri v. CoBank ACBSupreme Court of the United States · 2001
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