Daily independent. [volume] (Elko, Nev.) 188?-1915, 1914-12-19
MOST BUSINESS
PAPERS TAXABLE
UNDER THE NEW War TAX FEW
comERclAL INSTRUMENTS
ARE ExEMpT

ical subdivisions thereof are NOT ra.
quired to pay the 1 cent tax imposed
on all telegraph and telephone mes,
sages costing over 10 cents.
The ruling makes 1t clear thai state
county and city governments are ex.
empt from such taxation whom mes.
sages are sent In the interests Of gov.
ernmental business. Where officials
make calls or send wire messages.
not on state, county or city business
out In their own personal interest.
they must pay the tax.
A war tax tangle involving the
stamping Of mortgages and notes has
just been unraveIed by ruling of the
treasury department to the effect
that the stamps are not required on
MORTGAGES securing notes or on asign-
ments of mortgages securing notes
the tax on the note itself being deemed
sufficient.
documentary stamps are, however,
required on oil notes. Under the law
OF 1893 stamps were required on both
notes and mortgages and assignments
securing notes.
The following digest of the war tax
law details those commercial papers
on which special tax must be paid.
and those in common use on which
no tax is assessed:
On every power of attorney or
proxy to vote. except religious, liter
ary, charitable or cemetery associa-
tions, 10 cents each.
Every conveyance, deed, investment
or writing, granting, assignment
transfer or otherwise conveyed rang
ing in value from $1OO to $500, sol
cents; for each additional $500 or
fractional part thereof, so cents; pro-
Vided, that no tax is imposed upon
any instrument or writing given to
secure debt
Acknowledgements of deeds and
mortgages are not required to be
stamped.
Escrow deeds are not subject to
tax until final delivery,
A contract to deed real estate is not
subject to tax, except when title is
vested for future delivery.
A release of mortgage, no matter in
what form used, is not subject to tax.
A, deed or mortgage, recorded after
December !. 1914, is subject to tax
no matter where executed.
panainfs oona,,t..d q, ato,, ~ ,>,........
sorry nothes, as evidence OF money |
loaned, must be stamped the same as
promissory notes.
A permit granting right to burial
and to erect monuments is not subject
to tax.
conveyances of land by descent or
operation of law are not subject to
tax.
A ground rent deed is taxable as a
conveyance and not as deed.
A bill of sale is taxable.
Detachable coupon notes pay tax on
each coupon as we'll as the principal
note.
Conveyance Of an unpatented mine
location Is subject to tax.
Deeds Of conveyance executed be-
tween tenants in common are not
taxable. but when between joint ten
ants are taxable.
Conveyance Of realty to a trustee or
other persons without valuable CON
sfderation is not subject to tax.
Deeds of conveyance of land in a
foreign country are not taxable
Mortgage bonds, corporate bonds,
debentures or certificates of indebt,
edness are taxable 5 cents for eyery
800 of face value.
Promissory notes and renewals of
same are taxed 2 cents for every $100
of face value.
( Power of attorney to convey real
estate or personal property pays a tax
Of 25 cents.
The United States government is
having Difficulty. In supplying enough
special revenue tax stamps to supply !
the demand.
A statement issued by Joseph =.
Scott, collector OF internal revenue
at San Francisco for this district, has
issued a statement which says:
,;rhts Office realises the difficulty
confronting the towns in Nevada in
the matter OF securius stSEsir,ss.
stamps have been on sale in tpis
office, at the Sacramento office and at
the Oakland and Fresno Offices, and.
in addition. banks in the district have
purchased starnps for the accommodate
tlon Of the public. You win realize,
Of course, that putting into effect the
Law that embraces 30 many different
phases OF busIness activity u q stu
pendous task
''This whole Office force has worked
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