Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-12-07
LOOMS ISSUES A
DIGEST Of STAMP
TAX DECISIONS
Deputy Revenue Collector Tells
What instruments Are Ii
able 10 Law and Those That
Are Not.

Because of some doubt as 10 what
Instruments the war revenue law ap-
plies. A. u. LOOMS. OF Santa Fc. dep
uty internal revenue collector. has is
sued a statement cmbodyIng Import
ant points decided by the commits
si0ncr OF internal revenue.
Mr.. LOOMS statement follows:
Transfers OF stock from guardian TO
ward are subject TO taxation.
Preferred stock issued Ia lieu of
common stock Is not taxable when
there Is no change OF ownership.
Where one certificate represents sew
efal shares. the tax OF cents on each
500 or fraction thereof Is to be reck-
oned on the face value of the certifi-
cate, and not ON the face value of each
separate share.
Receipts accepted In lieu of promls-
sorry notes. as evidence OF money loan
ed, must be stamped as promissory
notes.
Checks issued In lieu of promissory
notes must be stamped at the rate Of
cents per 500.
No stamp Is required upon the
transfer by Endorsement Of promis-
sorry notes.
promissory notes which have ma
tured and have been allowed 10 run
without suit are held not to be re-
newed by the payment of interest,
This Is looked upon as a "ferbear-
ance" and not renewal, the holder
not relinquishing his right of action
for any stated period.
Memorandum receipts for freight.
afterwards exchanged for bills of
lading, must be stamped when issued.
Bills of lading or receipts from
transportation companies may include
more than one shipment therein, pro-
! vided that Il stamp or stamps amount
ing In value to | cent for each ship
ment shall be affixed thereto and can
celled. -
The fact that an individual holds a
telegraph frank has no bearing upon
the question Of liability or non-llability
TO stamp tax of the message sent by
such frank holder.
Bonds of municipal officers require
stamping.
Bonds Of notarics public are subject
to tax.
Bonds Of administrators executors,
/ guardians, and receivers appointed by
the courts are not taxable.
Bonds given by public officers such
as shcriffs. clerks. registers, or re-
corders of deeds. treasurers of coun-
ties. cities. or towns, or other public
officers Of like character. are requir-
ed 10 be stamped.
Bonds required In legal proceedings
are exempt from stamp tax.
! Letters of administration and other
probate papers, certificates of sale for
unpaid taxes, and certificates of re-
demptlon do not require stamps.
Teachers certificates issued by state
or county officers do not require a
stamp.
Certificates Of authority issued to
insurance agents by state officers are
subject to taxation, and the rate inn
posed Is o cents on each certificate.
Certificates attached to dispositions
TO be used in legal proceedings are not
taxable.
Certificates required by law issued
| by any department or officer of the
government, at the request of private
persons, solely for private use, should
be stamped. The stamp should be
furnished by the person applying for
the instrument and for whose use and
benefit the same Is issued, and should
be affixed before the document is de-
| livered.
Certificates of officers of the Unit
ed States, given In the discharge of Of
fetal functions necessary in carrying
ON the machinery of the government,
are exempt.
Certificates issued by an officer of
a state, in the interest of the state.
are exempt.
A marriage certificate, to be re-
turned to any officer of a state. coun-
| ty. city. or town, TO constitute part of
II public record. requlres no stamp. A
marriage certificate issued by the Of
iiciatlng clergyman or magistrate and
given to the parties II required by
law. must be stamped at the rate Of
10 cents ~
A stamp is required on certificates
Of incorporation.
The certificate of clerk of a court
to the qualifications of a notary pub
lie, or justice of the peace. is held to
be certificate requiring a stamp.
4 certificate of acknowledgment to
a deed where the consideration of the
deed Is 500 or less does not require a
stamp.
Certificate Of protest must be
stamped
The memorandum on the back OF a
deed or mortgage, made by the regis
| ter or recorder, that the instrument
| has been placed upon record, is not
subject to taxation.
In reckoning the stamp tax on
transfers of certificates of shares Of
stock the tax il reckOned on the face