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Business Taxes Law Guide—Revision 2024
Sales and Use Tax Annotations
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505.0000 Sales to the United States and Its Instrumentalities—Regulation 1614
Annotation 505.0190
(a) In General—Agencies Qualifying for Sales Tax Exemption
505.0190 Federal Savings and Loan Associations. Sales to federal savings and loan associations, federal savings banks and federal savings associations are taxable regardless of the decision by the United States Supreme Court in Diamond National Corp., et al. v. State Board of Equalization, since 12 U.S.C. §1464(h) simply provides that such associations shall not be subject to state or local taxes greater than imposed on similar local institutions. 5/27/76.