The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1917-12-14
STAMP TAXES ON.
May Glasses OF Financial Paper Are
Afected-ParceI Post Packages


Afected-Parcel Post Packages
Also.
Documentary stamp taxes OF tne
W. TO- hill went into effect last
saturday. Revenue stamps must NC
7ffi~ad In bonds of indemnity or IN
dnhtedness. capital stock issues, stoch
4ranofnrs produce sales on exchanges
drafts DromissOry notes, conVeyanceo
nd deeds, custom house entrles'
Steamship tickets, proxies assist
ments of power of attorney piayIn9
nards and parcel post packasee51ii
None are required on cnechS' a. a.
atamps are sold by post onlces, eAIGpo
those for stock transfers anu pIouuGo
ea1ns which are distributed Unaou9
-avnnue collectors. Millions VI uol,
lars in receipts are expected u lG ~
the Treasury from these sources. I'D I'D
tovas are similar to those llilpo'G
during the Spanish war anu ny 'Iil0-
goncy revenue act OF 1914
a. canita1 stock transfers, lor
-,,hinb the Government eXpects W uI
NO large revenue, and Whlcn W. W.
al heavily on stock exchanges tne
TO- ta ie 2 cents for each 500 or tractl1L
90 tho face value Stamps are 10 We
ofivnd IN the stock books, not W 'n0
anrtificatp of sale or exchange
-. nroduce sales on exchanges Tue
49,, ie , cents for 500 OF value OIL INC
Io' covered by the agree
80 - and stamps are to be aIllAeu "
he memorandum or bill OF sale me Inc
IN IN covers transferred or scralcn
a1oc and sales for future delivery; =
Ponds of indebtness are taxeu a
40 for each 500 of face value VI
enao+ion and renewals are taAeu do
+ow issues. Indemnity and surety
bo,de are subject to a tax OF 9o cellIo
nor cent of the permium cnareeu
e. tho execution of the bona bohuo
~ nolicies of reinsurance are exempt
tax of cents is levied on edGll
auiainaI issue of certificates or Stoch'
oi+hnr IN organization or reorSdn!1a
49, of face value of 500 or tractlon
~ moot the practice in some states VI
:.o,,i,g stock without face value, II IS
n:f;od +bat the tax shall be laid on
aI,,oI value if there is no lace
value. o+hor
For drafts or checks payable otner
than at sight or on demand anu ~
nromissory notes and their renewal
the tax is 2 cents for each $lVV or
fraction. This levy will lay Durden
particularly on the banking business
Ordinary bank checks are not taXaOle'
Realty conveyances and Qeeds are
taxed so cents where the value OF the
interest conveyed is between 500 and
$500, or so cents for each addltlolldl
$500 or fl action. Deductions may be
made of only a lien or encumDrance
remaining on the property al the
time of sale.
Before any parcel post package may
be accepted by pOstoflce 1t Hu9'
hear. in addition to the regular posi-
age revenue stamps amounting 10 l
cent FOR each % cents postage or
Trlcti1n. .,.
The entry of goods at customs
house for consumption or warehouse
l. taxable % cents when the Nalue l.
not more than $780, 80 cents when the
value is between 500 and $500 and y
when the value exceeds $500.
Passage tickets to transatlantic
South America or other ports not III
the United States, Canada or Mexico
are taxed according to a sliding scale
running from 81 on tickets costing be
tween $40 and $50, to s. for tickets
costing more than $50.
Proxies for voting at any meeting,
except of religious, charitable, frater-
nal, educational or literary organl-
cations, must bear l0-cent revenue
stamps. For power Of attorney the
tax is % cents. In addition to the old
tax of 2 cents on playing cards ne"
levy of 5 cents a pack is imposed.