Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-07-28
STAMP TAX LAW DECISIONS.


Rulings by the Treasury Dephrtpebt fhter-
preting "A Number OF the sections OF the
War Revenue Measure.
Warrington, July 10. The Commits
sioner Of Internal Revenue has an
nounced the following decisions under
the new revenue law: tcW
In regard to mortgages, the commits
sioner decides that there Is no dltfer-
ence in the rate OF taxation between
that on chattel mortgages and mort
gage ON realty. Upon a mortgage or
pledge of real estate or personal prop
erty for sum exceeding 81, 200 and not
exceeding 81, 500 stamp OF % conts 10
required, and on each $500 or frac-
tional part thereof in excess OF 81, 500,
% cents. Each and every assignment
or transfer of the mortgage or the re-
newal or continuance of any agreement
or contract. by letter or otherwise, re-
quires stamp tax at the same rate az
that imposed 90 the original inHtru-
ment. A mortgage for less amount
| than 81, 900 does not require q stamp.
Certificates OF acknowledgement to
| deeds, mortgages or other legal istru-
ments require to be stamped with U
| 10 cent stamp as q certificate in addi-
| tiun to ths stamp provided by law for
the intrument itself. They are no part
| of the execution of the deed or mort
| gage, und are nor covered by the stamp
required upon such deed or mortgage.
| The memorandum on the back OF a
| deed or mortgage made by register or
| recorder, that the instrument has been
| placed upon record, is not subject to
taxation. A deed for property, this
actual value Of which is less than 500,
| does not require a stamp. tft.4@
Promiss0ry notes, except bank notes
for circulation, for a sum not exceed
ing Sl00. require stamp Of ? cents and
for each additional 500 or fractional
part thereof IN excess of sl00, 2 cents.
No stamp lie required upon the tfansfer
by assignment Of promissory note.
Certificates made by national hank
ing associations. giving reports OF earn
ings and dividends as required by sac
ton 52l2 of the Revised Statutes, are
not liable to taxation.
Receipts setting forth the terms of Q
lease are required to be stamped as q
lease, unless separate lease has heen
made which has been duly stamped.
A receipt Issued by savings bank,
such as contains no words constituting
an order for the payment of moneys,
does not require 2 cent stamp.
Persons or firms engaged in buying
and selling for themselves are liable al
brokers for the special tax OF $50.
Checks of officers Of county Of
municipal corporation, drawn in theil
official capacity 10 discharge of dutisl
imposed by law, are exempt from taxa
, tion. Official checks nf postmasters Of
like character, drawn in discharge
Of duties imposed by law, are not taxable
In estimating the special tax oil
banks upon capital and surplus, th,
, amount invested 10 United Statel
bonds is not to be deducted.
Official checks of disbursing officer
, Of the Indian Service, drawn by then
against public funds in discharge O
their duties imposed by law, are exempt
When stock certificates are given al
collateral on notes, stamps are not re
quired on these certificates as in th
case of actual transfer, but they are Il
be stamped as pledge for the amour
for which they are hypothecated. o.
each renewal Of the note, whils the not
must be stamped anew, new stamps ar
not required on the certificate remain
ing pledged as before.
In the event OF dill Of sale of til
, certificates used as collateral being at
tHched thereto, IL seems that this mus
be regarded as transfer of the cortifi
Gates. and that the tax OF 2 cents o.
Q each 500 of the face value, or fraction
r thereof, must be paid, and the requisit
Q stamp be affixed thereto. But the sue
. cessive renewals of the notsH do not re
: quire the stamping anew OF the bill Q
sale of the certificates.
a Where long time notes, dated previou
y to July lat, 1898, are secured by dee
D of trust as collateral on commercia
o paper, tbs deed of trust and the note
Q are required to be stamped not on til
/ basis of their face value, but ON th
8 amount for which they are pledged
that is to say. the memorandum O
j their pledge must be gu stamped. Thi
Q pledge OF notes and deeds of trust, re
: manning the same as at the beginning
Q does not require to be stamped agai
: because OF the successive renewals o
o the notes for which they are held a
j. collateral. Bonds Ut municipal officer
8 are required to be stamped.
. In the case Of a mercantile and bank
8 ing company, who began business /
u March. 1888, with no authorized CAPT
j. tai stock of $1,000, of which amour
$1,000 has been pnid in and who have
. broad charter, which enables them {
. adopt any line OF trade that, proves mos
g profitable, so far as they have investei
q their funds in merchandise, and VIII
a also accept deposits which are draw
i out at the convenience Ut depusitors
/ for which they malss no charge an
J, derive no revenue, are held to be liabl
+ to the special tax of bankers.
u Five cents being the lowest retai
y price mentioned in Schedule b, taxabl
/. articles retailing for less cum may h
If packed together under one wrapper
: band or other enclosure. When the re
/, tail price of said package shall not, /
d the aggregate, exceed 8 cents, a siam
p for One-eighth cent shall be affixed O
3, tue outside band or wrapper, or othe
d enclosure, in such manner that th
y stamp will be wholly destroyed In opsn
l. ing the same In such case each sub
lie package shall have printed threon To
., words, "Sold from duly stampe
IS package. +"
Warehouse receipts for whisky il
bond require the 20 cent stamp.
Extracts of hsef anu food prepsru
, tions generally, unless specially adgsr
., tised in such manner as TO brin
i. them within the category of medicine
Va preparations, are not taxable.
a. Influence of AcLa
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