The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-01-25
STAMP TAX IS
KEPT ON CHECKS
Senate Committee Makes Re-
port on Revenue.
LESS TO BIZ PAID ON
BEER AND TOBACCO
Money Orders and Other Papers
Left Unchanged.

Washington, Jan. Ex-senator AID
+ rich, chairman Of the senate committee
/ on finance today reported the war
! revenue reduction bill back to the sen
ate. The committee reports a COM
plete substitute for the bill as it passed
| the house.
Most Of the articles upon which the
existing tax is repealed were snnulled
I in the house list. Among the taxes
I which the hose removed entirely, but
on which the Senate committee did not
act and which therefore, remained, are
the following:
Custom house br akers, proprietors Of
/ theatres, ciTcusseS and other plays,
bank checks, drafts or bills Of ex-
change, both inland and foreign money
orders, brokers contracts and mani
tests for custom house entry. All
these taxes are left as in the existing
law. The senate provision in regard
to steamship passage tickets leaves
the tax upon all tickets costing more
than $50. The house repeal the en-
tire tax. The house removed all pro-
prietary medicines and all proprietary
articles, including perfumery, COS
metics and chewing gum, from the
taxable list. The senate modified this
action with reference to medicines
only.
Aldrich Makes Explanation.
Senator Aldrich made statement
explaining the changes, which are as
follows:
Stamp taxes repealed. promissory
notes. mortgages. bills of lading for
export, powers of attorney, protest
charter party. certificates of all kinds
leases, warehouse receipts, Geographic
dispatches. telephone messag es. pas
sage tickets, costing less than $50, eX-
press receipts. freight receipts, bonds
except bonds Oe indemnity, legacies TO
religious, charita bic, literary or Educa-
tiOnal Institutions.
Special Taxes epealed-COmmercia
brokers.
Taxes acknowledgements insur-
ance, bankers, capital proprietary
medicines, CIGARS tobacco and beer.
The statement says that having al
ways in view the revenue requirements
Of the government, the purpose of the
committee has been to repeal such of
the taxes imposed by the war revenue
act of 1898 as are most annoying and
burdensOme on taxpayers, to retain
such as would be kept as a permanent
Part of the revenue system or at least
retained until all war taxes can be re-
peaIed. and to reduce others as fairly
and equitably as possible by some gen
eral plan of reduction Pursuing this
general pan. it has been possible to re-
duce the taxes approximately One-half.
Taking the estimates Of the treasury
department as a basis, the reduction
of revenue effected by the bill viii be
nearly $40 100000, a reduction somewhat
less than was produced by the dill as
it passed the house of representatives.
Beer and Tobacco Tax Reduced.
Reduction-The committee substitute
provisions in regard TO cigars, tobacco,
beer. etc, are as follows:
That on and after July I, 1901, there
shall be allowed discount of p per
cent on all sales by collectors to brew
ers and manufacturers of tobacco and
snuff upon the stamps provided for the
payment of internal revenue taxes
upon beer and manufactured tobacco
ard snuff, provided that the discount
al lowed TO brewers upon beer stamps
shall be in lieu of the discount of ~
per centUm allowed BY the act of June
Is. 1898.
The effect is to reduce the beer tax
to $3.50 per barrel and on snuffs and
tobacco to 9 cents a pound.
There Is a general reduction of the
tax on insurance policies and renewals /
and it is provided that in lieu of the
present taxes special taxes shall be i'm
posed, TO be paid by the insurance com !
paDies as follows;
Life insurance companies. 4 cents on
the amount insured for each 800 or
fraction of every policy.
This provision is moulied by the follow
ing provision:
That 20 all policies fer life Insurance
only issued on the Industrial or other |
suTance, the tax 10 be paid shall be . !
per centum Of the amount of the first |
weekly premium, or 3 per cenUum of the |
nrSt monthly premium. and provided fur {
tneT. that the provisions of this section ]
shall not apply TO any frdteTnal Deneft /
society. order or farmers purely local |
cooperative company or association. or 4
employees. relief association. operated on !
"a lodge system or local cooperative plan. |
organized and conducted solely bV the 1
OF its members and not for profit
Tax on Other Insurance.
Marine, inland, fire. casualty. fidelity /
and guaranty insurance cOmDanies-One-
quarter of one per cent of the gross
mutual insurance companies TO be eX- /
empted
All insurance companies are to be re- 1
Quired TO make annual returns to the :
turns required being such as VIII enable 4
me commission to levy and collect from !
the companies the taxes required to be /
paid by them
In case of nOn-paynenl Of the special /
taxes levied against insurance companies !
IL Is provided hat the delinquent company /
shall beside being liable for the payment /
OF double the amount Of such special tax /
be deemed guilty of a misdemeanOr. and I
upon prosecution therefor shall nav a I
sion OF internal revenue Is authorized to 4
examine books and assets Of companies /
ne suspects of making false returns
Deed Stamps to Be Less.
In the existing law all deeds covering /
rate OF 20 cents. The senate committee /
removes the TAX on all deeds where the /