I Hon. 2. Il. Coono, Uroh 

whloh 6ro fllod or 

County Clerk ardor 

_-_ . 

moordad in ths offloe of the 

the Rsglatratlon L6wa of thla State; 

b protiamg that no tax shall be levIed on inatrumeat8 

for an aaouat 0r Two Hundred D0116ra (#WC) or la88. 

Aftor the l ffeotlre data of thlr Aot, rxoept ea hereinl r tor prorlded, DO lnatrument oroatlng a lien 0r any 

ohareotm to aeouro the pa 

title to say property untl I= 

at of money, or mrenlng 

ahrll have born 

the purohaae prior thermor 

County Clark in P 

aid, ahall be tlld or rroordoa by l y 

hi8 Btatr until therm her beon affixed 

to 8uoh instrument rtampr in 8caordanoo rlth the provlrlona of thl6 SOotion 

.thr. 

P 

6 

ena providing further that 

rorlalona of thla l otlon ,rhall not apply to reaawa a or l xtenrlona 0r any note6 or Obllgatlona, an4 

l peoifli!ally ahell not apply to rafundlng of exlating 

bon48 or obllgatlona. , . .a 

9, 1939, Pagr g 

The-m oen be no doutt but that thr holdrr of the instrument 

was cntltlad to here the ame reoordeb a6 a bwd oi tru6t in the 

dead of trust maorda, wlthout'harlag the aame filed aa a ohettel 

mortgage and noted in the ohattel Eortgage rooorda. Uo waa not 

rrqulrod to undergo that expense unle88 he 60 dealr8d. It wea hlr 

right to withdraw the lnstrumnt after it had been oopled into the 

ad 0r truat rsoordr'. If he elOotO4 to avail hlnunrrlf of there 

rlghta, the olerk war guilty of no 4rlln~uOnoy lo not entering the 

6600 In the ohattel PlortgagO reoordr an4 ln 4elltOrlng the inatrusent baok to him. So far a8 being a chattel mort@q$e la oonoorned, 

tbe instrument la preae.hd to the county olerk for the flrat time. 

The lrot plainly protlaea that artor it8 l ffeotlre date 

“00 lnatrumedt oreatlng l lien . . . ahall bo filed or reoordod 

, . i until thOre ha8 bson affixed to auoh lnatnmOat atampa.* 

Fhe ram ha8.110 8terapa afflxed to it. Ho OXOeptlOn la xi640 for 

:Ii; ben8flt of ln6tlWEsOnt8 whlbh hbb been executea Drlor to the 

. No language thsreln oontalned lndloatea any lnteatlon to 

rxempt lartrumenta theretofor l xeouted from it8 opemtlon. 

Thla Department ha8 6lwey8 taken the pO8itiOn that the 

Lax levied by the atote article,iU an l xolaa tax or a tax upon the 

;;ld;;8 0r rroordlng. In 4 Coolry on Tlxatlon, 4th Ed. 5379, it 

'Stamp taxer are a form of 8x0188 tax. They are 

generally lmpoaed by tbs federal goranment elthough 

they 8iay be imposed by a state.* 

. 

. 
00. :. 1:. Cocno, Carob 9, 1939, Pace 3 

I i 

k 

kven the Suprt%a Court 07 the united Ltnte8 in the case 

:‘homas 16. Lnltsl itatee, 192 V. !:. 363, 24 S. Ct. 306, 40 

L. :d. 481, 8tid tt&t -8tamp tamI8 ord!narlly* are excise taxes. 

It 18 noted tt.et ttaa tax appli-8 only to those in6truuar.t.8 

9blch are filed or recorded and doe6 not apply to any instrument 

~lasa the 8rucc :a 80 tllsd or recorded. %iS cfm EWUI only tb6t 

tbe tax lo oue wblch Jo levied upon the prlrilrge of recordln& tke 

~nstrurrent rather than upon the lnstrumont itself or the noto 

ublcb la secured by ouch instruxont. 

In the lnotsnt CBPU, it 18 oought to xake use of the 

mcords. This being a tax UPC:: the privilege of U8lhG such records, 

It 1s wholly lmuaterlal whether the lnstnusont existed prior to 

the effective bate of the 4t or not. In our oplnlon the county 

rlerk should roc;ulre tbe ln~.trumnt to be stamped before he aocepte 

the rase for filing. \ 

Your8 very truly 

QRL:X