Clarke courier. [volume] (Berryville, Va.) 1869-1997, 1899-03-22
Some Revenue Laws.

Mr.. NJ. Bolts Lewis, deputy collec
tor, visited the Bank of Clarke Coun
~ aud County Clerks office last week
TO have with them fuller instructions
ii regard To the provisions c! the stamp
tax law. The provisions. which were
carefully complied by Mr.. Lewis.
show that u person can withdraw his
deposits from hank without affixing
revenue stamp thereon. In other
words, the law does not require "A
stamp TO be attached to receipt for
money, and if any deposition gives a
receipt for money he has placed in a
bank no stamp need be used. The
following provisions will be read with
interest 10y business men:
No stamp is required on an affida-
Wit.
Bonds of all officers must be stamp
ed with soc. stamp.
Bonds of administrators and exec
utors and bonds required in legal
proceedings are exempted. All others
are taxable.
Any promise to pay in which is N
cOrpOrated Il seal Is bond and must
bear soc. stamp, regardless of the
amount of the bond.
Any certificate required by law
must be stamped.
Marriage certificates are exempt.
y certificate of acknOwlcd gmeiit To
a deed must he stamped only when
the deed itself Is exempt from tax.
All orders for money at sight or
On demand, no matter on whom
drawn, must bear &c. stamp.
\ receipt personally rendered to a
bank 10y a depOSitOr upon the with
drawal Of funds 10 his credit does
not require, "a stamp
y decd n the CONVEYANCE Of real
~. If the considerable l. over 500.
mast near a stamp a. follows: flower
) coo and hes than $500. 5Oc.. and
5oc. for each additional $500 or frac-
ton thereof. Wherr the cnnsidera
tlnu Is not named I'm the deed the ac
tuai value Of the property must be
taken a. the consideration
If tn, consideration Is less than
500 the certificate OF acku"wirdg
meat must bear Zoe. stamp
Deeds of release are not taxable,
except mat the certificate of ackn wv
ledgmeut must he stamped.
\ deed OF PARTITION OF land, where
there l. no consideration. is not taxa
hlc.
\ mortgage or pledge of any prop
erty whatsoever. If the amount for
which II Is mortgaged or pledged is
IN excess of $1,000. must he stamped
at the rate of 25c. for each $500 or
fractional part thereof in excess of
the $1,000.
An assignment or transfer of "A
mortgage must he stamped at the
same rate as the original. If part
of the mortgage has been paid cor
responding reduction is allowed in
the tax.
Where notes or bonds are secured
hy mortgage ii is not necessary 10
stamp but one of the instruments.
hut that one must be the one reQuir
ing the largest tax.
\ policy of insurance is not valid
unless II bears the proper Cancelled
revenue stamp. \ stamp must be
attached To premium notes as we'll as
To policies.
The ordinary notary's jurat is not
required TO be stamped.
\ lease for the hire or rent of any
land or tenement, if for period of
time less than one year, 24c.; exceed
ing one year and less than three years.
soc; if over three wears, Sl.OO.
When leases or executed in dupli
cate. so that both are orr inals. both
are required To he stamped; but if
there he but one original, copies there
of are not required to be stamped.
Notes are required to he stamped
at the rate of &c. per 800 of face
value. A renewal or an extension of
a note requires the same stamp As the
original. If the note has seal in il
it becomes bond and must bear n
soc. stamp. regardless of its face val
ua.
Power of attorney requires a 25c.
stamp.
A lOc. stamp is required on proxy
| for use in voting at an election of of
ticers of an incorporated company.
An original issue of stock requires
stamp of SC. on each 500 of face
value or fraction thereof. On each
transfer of snch stock %. per 800
face value or fraction thereof.
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