Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-12-03
Neu War Stamp Tax
Lau Went Into Force
Saturday, December !

WASHINGTON, Dec. 3.-Docunen.a!y
stamp taxes Of the war tax Din Wens
into effect today. Revenue stamps
must be affixed 10 bonds Of indemnity
or Indebtedness, capital stock issues
stock transfers, produce sales on eS-
changes, drafts, p-ornissory notes con-
veyances and deeds, customs mouse
entries, steamship tickets, proxies, as
signments of power Of attorney. play
ing cards and parcel post packages.
None are required on checks.
All stamps are sold by postoSices
except those for stock transfers ana
produce sales which are distributed
through revenue collectors. Millions o.
dollars in receipts are expected 10
reach the treasury from this source.
The taxes are similar 10 those i'm
posed during the Spanish war and ~
emergency revenue act Of 1914.
On capital stock transfers, rom
which the government expects 10 de-
rive a large revenue. and which "iA
fall heavily on stock exchanges. the
lax Is TWO cents for each 800 or <rac-
ton Of the face value. Stamps are 20
De affixed 10 the stock books, not to
the certificate Of sale or exchange.
For produce sales on EXCHANGES the
tax Of cents for 800 Of value Of the
merchandise covered by the agree
rnenr and stamps are TO De affixed TO
ne memorandum or bill Of sale The
law covers transferred OF scratched
sales and sales FOR future delivery.
Bonds Of Indebtedness are taxed :
cents for each 800 Of face value or
fraction and renewals are taxed as new
issues.
Indemnity and surety bonds are
subject to a tax Of 50 cents, or one
per cent Of the premium charged for
the execution OF the Dond. Bonds or
policies Of reinsurance are exempt.
A tax Of 5 cents IS levied on each
original Issue Of certificates OK STOCK
either on organization or reorganiza-
ton. Of face value OF 300 or fraction.
To meet the practice IN some states
OF issuing stock without face value
il IS specified that the tax shall! De
laid on the actual value IL there Is no
face value.
For drafts or checks payable other
than at sight or on demand and Tor
pronissory notes and their renewal,
the TAX Is cents for each 800 or f-ac-
ton. This levy will lay burden
particularly on the banking business.
Ordinary bank checks are not taxa
BILE
Realty conveyance and deeds are
taxed so cents where the value OF the
interest conveyed is between 800 and
$500, and so cents for each additional
! $500 or fraction. Deduction may be
made of only a lien or encumbrance
| remaining on the property at the time
| of sale.
! Before any parcel post package
may be accepted by a postoffice II
must bear. in addition to the regular
postage, revenue stamps amounting 10
one cent for each % cents postage or
fraction.
! The entry Of goods at custom
house for consumption or warehousing
is taxable % cents when the value Is
not more than 800, 30 cents when the
value is between 500 and $500, and
i. 81 when the value exceeds $500.
| Passage tickets TO transatlantic
South American or other ports not il
the United States, Canada Or Mexico
are taxed according to sliding scale
running from 81 on tickets costing be.
tween SO 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 organiZa.
tons, must bear 10 cents revenue
stamps. For power Of attorney tn
tax lie rs cents. In addition to the ole
tax Of cents on playing cards, new
levy Of cents pack II imposed.