The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1898-10-28
MORE DECISIONS.
Internal Revsnue Rulings That Interest
Payers Of war Stamp Tax

Recent decisions from the Office at
Washington of the commissioner of in
ternal revenue in regard to the war
revenue tax. are interesting to mer-
chants, manufacturers and bankers in
Worcester and vicinity.
The commissioner of internal reve-
nue's Office is flooded every week with
inquiries regarding war tax measures.
From this weeks decision is CLEANED
the following:
Receipts of bank depositors are the
subject Of considerable comment The
commissioner in answer to a New York
correspondent who asks if the revenue
stamp must be attached to bank re-
ceipts, the commissioner has made a
l finding as follows;
A receipt for money! says the COM
missioner, is an acknowledgment of
payment Receipts used by depositors
to withdraw money from bank in place
of checks are held and relied upon as
an order for payment of money and
must be stamped, Privileged occupa
| ton as a banker involves reciprocal
obligations to restrict the instruments
| upon which money is paid to such as
are specified in the law to be used for
| that purpose.
! In regard to the matter of receipts Of
| depositors, the commissioner rules that
savings banks which have made
regular custom of making entries upon
l the pass books of depositors when with
| draWals Of money are made do not be-
come liable TO taxation upon continu-
| ance of the course, as the tax is only
upon the bank cheek. draft or certifi-
! cate of deposit not drawing interest or
order for the payment of any sum Of
money at sight or on demand. The
Of 10 lay iet f .-fa
on checks which are commercially ne
gotiable Instruments.
| Another decision will be of interest
| TO shippers. The commissioner finds
that shippers need not have q separate
| bill of lading or receipt for every single
| package. Shippers in New York city
| have been in the habit for years Of
making out receipt containing the
names of a dozen consignees, when the
latter on one particular line of railroad
| or the same city, The commissioner
declares that if five packages are
shipped at one time FIVE stamps must
| De atlXed. On 10 packages 10 stamps
must be placed upon the bill of lading
Separate bills of lading are not required
! Tor each individual package.
| A decision of interest to brokers relates
| to persons who declare themselves to
| be scalpers or spectators and who
deny that they are liable for special
war revenue act, on the ground that
they do business for themselves exclu-
| sively, and not for others, and who say
they do not come within the definition
| of commercial brokers clause of thisact
| If they are engaged in the business of
| buying bank notes, promissory notes or
other securities for themselves, they
would become brokers under the pro-
visions of the act.
In order to become rated as ''cOm
mercial brokers' their negotiations of
| sales or purchase of goods, wares, pro-
duce or merchandise, must be for 9TH
| ers on commission.
| If they make purchases for them
selves they are clearly not within the
terms of the act.
| The internal revenue office is furn-
| ishing private dies for stamps that are
affixed to proprietary articles sold by
druggists. The government makes the
dies in four different sizes. Any size
| can be used on stamps of any denom-
| ination.
The attorney general has handed
down an opinion in regard to building
and loan association documents,
He rules that any paper or instru-
ment otherwise taxable), executed By
a building or loan association that
makes loans only to it's shareholders
and within the limit of the Legitimate
operations of its business, are exempt
from the stamp tax, except checks OF
drafts
The revenue department and attorney
general are considerably bothered by
people who run to them to settle all
questions, no matter how trivial. The
| officials are obliged to answer many
needless questions. But they try to
answer them all to satisfy the demands
| Of the public, whom they serve.