Dear Frens,
Please help a dumb anon out. Will this give any kind of tax relief to individuals?
Went into effect yesterday.
12 USC 531: Exemption from taxationText contains those laws in effect on October 19, 2023
From Title 12-BANKS AND BANKINGCHAPTER 4-TAXATIONSUBCHAPTER I-FEDERAL RESERVE BANKS
§531. Exemption from taxation
Federal reserve banks, including the capital stock and surplus therein and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section531