Question

Imagine the state of California passes a law to tax all banking activities within the state. Which of the following could happen?
The national bank of the United States, or the Federal Reserve, could challenge the California law based on the McCulloch v. Maryland
decision
The national bank of the United States, or the Federal Reserve, could take the taxes California collects based on the McCulloch v. Maryland
decision
Private banks operating only in the state of California could challenge the state's tax law on banking based on the Gibbons v. Ogden decision.
Private banks operating only in the state of California could take a portion of the taxes collected based on the Gibbons v. Ogden decision.

Answer 1

Answer: A

Explanation: