South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-12-01
DOCUMENT STAMP
TAXES DUE TODAY
Bonds. Stocks, Drafts, Etc.,
Must Bear War ReVe-
nue. Pastors.

WASHINGTON, Dec. /. Doc
umentary stamp taxes Of the war
tax bill so into effect Saturday
Revenue stamps must be affixed TO
bonds of indemnity or Indebtedness,
capital stock issues, stock transfers.
produce sales on exchanges. drafts,
promissory notes. conveyances and
deeds, customs house entries,
steamship tickets. proxies, assign
ments of power of attorney. play
ing cards and parcel post packages.
None are required on checks.
All stamps are sold by postonices
except those for stock transfers and
produce sales which are distributed
through revenue collectors. Millions
of dollars in receipts are expected
to reach the treasury from this
course.
The taxes are similar to those
imposed during the Spanish war
and by emergency revenue act of
1914.
on capital stock transfers. from
which the government expects to
derive a large revenue, and which
will fall heavily on stock exchanges.
the tax is two cents for each 500
or fraction of face value. Stamps
are to be affixed TO the stock books
not TO the certificate of sale or ex-
change.
On Produce Sales.
For produce sales on exchanges
the tax is two cents for 500 of
value Of the merchandise covered
by the agreement and stamps are to
be affixed TO the memorandum or
bill of sale. The law covers trans
ferred or scratch sales and sales for
future delivery.
Bonds of Indebtedness are taxed
five cents for each 500 of face
value or fraction and renewals are
taxed as new issues.
Indemnity and surety bonds are
subject to a tax of so cents, or one
percent of the premium charged for
the execution Of the bond. Bonds
or policies of reinsurance are ex-
empt.
A tax of five cents is levied on
each original issue of certificates
of stock. either on organization or
reorganization, of face value OF
500 or fraction. To meet the
practice in some states of issuing
stock without face value, it is spec
ifed that the tax be laid on the
actual value if there is no face
value.
For drafts or checks payable
other than at sight or on demand,
and for prOmisory notes and their
renewal, the tax is two cents for
each 500 or fraction. This levy
will lay a burden particularly on
the banking business. Ordinary
bank checks are not taxable.
Realty Deeds.
Realty conveyance and deeds are
taxed so cents where the value of
the interest conveyed is between
500 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 re accepted by a postofrice it
must bear. in addition to the reg
ular postage. revenue stamps
amounting TO one cent for each 25
cents postage or fraction.
The entry of goods at a customs
house for consumption or ware
housing is taxable % cents. when
the value is not more than 500,
80 cents when the value is between
500 and $500. and 81 when the
value exceeds $500.
Passage tickets to transatlantic,
South American. or other ports
not in the United States. Canada
or Mexico are taxed according to
a sliding scale running from 81 on
tickets costing between $40 and
$50. to SIS for tickets costing more
than $50.
Proxies for voting at any meet
ing. except Of religious charitable
fraternal. educational or literary
organizations. must bear 10 per-
cent revenue stamps. For a power
of attorney the tax is % cents. In
addition TO the old tax of two cents
on playing cards. a new levy Of
five cents pack is imposed.