Diamond Nat'l Corp. v. State Bd. of Equalization
425 U.S. 268 (1976)

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U.S. Supreme Court

Diamond Nat'l Corp. v. State Bd. of Equalization, 425 U.S. 268 (1976)

Diamond National Corp. v. State Board of Equalization

No. 75-1038

Decided April 19, 1976

425 U.S. 268


The incidence of state and local sales taxes falls upon appellant national bank as purchaser, and not upon vendors, and therefore the national bank is exempt from the taxes under former 12 U.S.C. § 548 (1964 ed.), which was in effect at the time here pertinent. 49 Cal.App.3d 778, 123 Cal.Rptr. 160, reversed.

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