Daily Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1876-1884, 1883-03-24
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the new REVENUE LAW.
Great Reduction in Taxes-Matches
Set Free-Tobacco and It's Pro-
ducts Let Down Ono Half
Tax on Bank Capital Abolished.

Tax on Bank Capital Abolished.
The new Internal Revenue Law
passed by the Forty Seventh Congress
makes the following important reduc.
tons:
All internal revenue tax is removed
from the capital and deposits of banks,
bankers and national banking associa-
tions, which makes reduction OF
81 900, 900.
On and after July !, 1888, the tax on
matches, perfumery, bank checks, drafts,
vouchers, playing cards and proprietary
medicines shall be abolished. This will
reduce taxation 1869. 1903 on the basis
of last years business. Matches may be
made after the 18th of May next and
stored in U. S. Bonded warehouses till
July |, without paying taxes.
After the first of May next, dealers in
leaf tobacco shall pay tax of Sl2
annually; dealers in manufactured to-
bacco, 81 40; manufacturers of tobacco,
s.; Manufacturers of cigars, Sc;
peddlers of cigars, snuff and tobacco,
first class, $50; second class. SIS; third
class, 81 20; fourth class, $3.50; retail
dealers in leaf tobacco. $3.50, and thirty
cents for each dollar on the amount of
their monthly sales in excess of $500 per
month Tobacco growers may furnish
their lahorers with 100 pounds OF to.
bacco, free of tax.
After May |, 1888. the tax ON snuff,
smoking and manufactured tobacco shall
be eight cents per pound; on cigars, SO
per thousand; on cigarettes, over three
pounds per 1000, three dollars per
thousand. Unbroken packages that
have paid over $40 tax before May
18th are entitled to a rebate in stamps
of the excess OF taxation paid, Every
manufacturer of tobacco or snuff shall,
in addition to all other requirements of
law, print on each package, or securely
affix by FASTING on each package contain.
ing tobacco or snuff manufactured by or
for him, label on which shall be
printed the number of the manufactory,
the district and State in which it is sit.
uated, and these words;
NoTICE.
The manufacturer of this tobacco has
complied with all requirements of law.
Every person is cautioned, under penal
ties of law, not to use this package tor
tobacco again.
THE REBATE.
The question how the rebate on to-
bacco, cigars and snuff will be paid is
announced by our dispatches. The law
says that the rebate may be paid "to
manufacturers" in stamps.
1t does not say that it shall be paid
in stamps. This is, however, immaterial
10 the manufacturer.
The iobber and retailer will receive
certificates which will entitle them to
the amount of rebate that is due them.
As the certificates will be negotiable,
jobber or retailers may sell them to a
manufacturer, who will, if he desires,
receive stamps for them.
All claims for rebate shall be made
within sixty days from the first day of
May, 1883.
1t should be remembered that the
Government will allow no claim for re-
bate less than $40. A dealer with 1000
cigars on hand will get no rebate, but
with 1000 in stock he will get $40 re.
bate.
OF tobacco dealer would be obliged
to have 100 pounds or over to entitle
him to a rebate.
THE TARIFF on TOBACCO.
Cigars, cigarettes and cheroots of all
kinds, 81. so per pound and % per cent.
ad yalorem; but paper cigars and cigar.
cites, including wrappers, shall be sub.
ject to the same duties as are herein i'm.
posed upon cigars.
Leaf tobacco, OF which So per cent. is
of the requisite size and of the necessary
tineness OF texture to be suitable for
wrappers, and of which more than one
hundred leaves are required to weigh a
pound, ii not stemmed, 70 cents per
pound; if stemmed, 81 per pound.
All other tobacco in leaf unmanuiac.
tured, and not stemmed, IS cents per
pound.
Tobacco stems, Is cents per pound.
Tobacco manufactured, OF all descrip.
tions, and stemmed tobacco, not specially
enumerated or provided for in this act,
40 cents per pound.
Snuff and snuff flour, manufactured OF
tobacco, ground, dry or damp, and
picked, scented or otherwise, of all de.
scriptions, so cents per pound.
Tobacco, manufactured, not speci.
ally enumerated or provided for in this
act, 30 per cent. ad valorem.