AGRICULTURE - Excise tax; deduct from loan proceeds. (United States)

AGRICULTURE - Excise tax; deduct from loan proceeds.

Published: 1955

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In the case of a pledge or mortgage of wheat as security for a loan under the federal price support program, the tax shall be deducted from the proceeds of such loan at the time the loan is made.

Source

Laws 1955, c. 5, § 12, p. 63.