The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-08-06
THE WAR TAX ON RENTS.
When Stamps Must BE affixed to Leases
and Rents.

and Rents.
Newark, N. ]. Sunday Call)
Real estate men, landlords and tenants
ton of the new internal revenue war tax
law to leases and receipts for rents.
There has been considerable published on
the question, but this has only tended to
make the confusion worse COMPOUNDED.
The Call has been appealed to by
"a dozen or more correspondents for en-
lightenment. 10 set the matter straight
Internal Revenue Collector Rutan yester
day dictated to a reporter Of the Call
statement showing the application of the
the law. MIR. Rutan said that he was
very glad to do this, as he had been over
run with people during the week, all of
whom desired to know the true situation.
The collectors statement of the law is as
follows:
On leases executed prior to the first day
of July, 1898, no stamp is required, and
on any receipt given for payment of rent
under any lease executed prior to the first
day of July, 1898, no stamp is required,
whether the receipt was issued prior to
the first day of July, 1895, or after that
date. If issued a yenr hence or two years
hence no stamp is required, provided it is
given for payment of rent under lease
executed before Juy 1. 1898.
10 leases made on or after the first day
of July, 1898, if the period covered by the
lease is for one year or less, a twenty five
cent internal revenue stamp must be
affixed.
On leases made on or after the first dny
OF July, 1898. If the period covered by the
lease is for three years or any period of
time less than three years but more than
one year, a fiftycent internal revenue
stamp must be placed.
On leases made on or after the first day
of July, 1893, where the period covered
BY the lease is more than three years, a
one-dollar internal revenue stamp must
be placed.
All receipts for rents given under leases
executed on or after July 1. 1898, wheth-
er the leases are for one or three years, or
for any other period of time. are exemp
from taxation, provided the lease Is prop
erly stamped.
All receipts for rent, where there is no
written lease or other written and ao-
knowledged agreement, for any month
after June 30, 1898, or any period of time
less than one year after that date. must
bear tenty five cent internal revenue
stamp. 1t receipt Is given in July,
1898, or at any future time. for rent for
June, 1898, for any part of that month or
for any preceding period of Time no
stamp Is required. But to any receipt Tor
rent given any time in July, 1928, or at
any future time, the period for which the
rent is paid being July, 1898, any part OF
that month or any other period OF Time
less than one year after July, 1898, where
there is no lease, twenty-five cent inter-
nal revenue stamp must be affixed.
TWENTY-FIVE cent internal revenue stamp
must be affixed to @ receipt for rent II
there is no lease for August, s1o9S; also,
for September, 1898, and for each succeed
ing month, or from any other period of
time less than one year after July /, 1898.
The stamp must be affixed whether the
rent is paid in advance or after the period
for which the rent is due; or whether the
amount peid for rent is 50 or $500.
In a nutshell, the law requires the fol-
lowing taxes:
TWENTY-FIVE CENTS.
Leases dated on or after July /, 1885,
for period of one year or less.
Receipts for rent for one month or any
other period of time less than one year
provided there is no lease, and provided
the period covered by the receipt is after
July l, 1885,
FIFTY GENTS.
Leases dated on or after July 1, 1898,
for period more than one year, but not
more than three years.
ONE DOLLAR,
Leases dated on or after JAY /, 1898,
for period more than three years.
EXEMPT.
Leases-All leases dated prior to July
i, 1898, no matter for how long period
of time.
Receipts-All receipts given for rent for
any period Of time prior to July !, 1898.