The Liberal democrat. [volume] (Liberal, Kan.) 1911-1924, 1917-12-13
DON'T FORGET THE WAR STAMP

Documentary stamp taxes of the
war tax bill are now effective. Rev
enue 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, Gus
toms house entries, steamship tickest,
proxies, assignments Of power of at
torney, playing cards and parcel post
packages. None are required on
checks.
All stamps are sold by post Offices
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 source.
Thetaxes are similar to those i'm
posed during the Spanish war and by
emergency revenue act of 1914.
On capital stock transfers, from
which the government expects to de-
rive large revenue, and which will
fall heavily on stock exchanges, the
tax is 2 cents for each 500 or frac-
ton of the face value. Stamps are to
be affixed to the stock books, not to
the certificate of sale or exchange.
For produce sales on exchanges, the
tax is 2 cents for 500 of value of the
merchandise covered by the agree
ment and stamps are to be affixed to
the memorandum Of bill of sale. The
law covers transferred or scratch
sales and sales for future delivery.
Bonds of indebtedness are taxed B
cents for each 500 of face value or
fraction and renewals are taxed as
new issues.
Indemnity and surety bonds are
subject to tax Of so cents, of l per
cent of the premium charged for the
execution of the bond. Bonds or pol
icies of reinsurance are exempt.
A tax of 5 cents is levied on each
original issue Of certificates of stock,
either on organization or reorganiza-
ton, Of face value of 500 or frac-
ton. To meet the practice in some
states Of issuing stock without face
value, it is specified that the tax shall
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
promissory notes and their renewals,
the tax is 2 cents for each 500 or
fraction. This levy will lay burden
particularly on the banking business
Realty conveyances and deeds are
taxed at so cents where the value of
the interest conveyed it between S 90
and $500, add so cents for each addi-
tional $500 or fraction. Deduction
may be made of only lien or en-
cumbrance remaining on the property
at the time of sale.
Before any parcel post package
may be accepted by post office it
must bear, in addition to the regular
postage, revenue stamps amounting to
1 cent for each rs cents postage or
fraction.
The entry of goods at a customs
house for consumption or warehous-
ing is taxable 25 cents when the value
is not more than 500; so 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 sliding
scale running. from 81 on tickets
costing between $40 and $50, to So
for tickets costing more than $50.
Proxies for voting at any meeting
except of religious, charitable, fra
ternal, educational or literary or
must bear 10-cent reve-
nue. stamps. For a power of attor-
ney the tax is rs cents. In addition
to the old tax of cents on playing
cards, new levy of cents pack
is imposed.
Rev. and Mrs. G. H. Cavit left for
Cheney, Kansas, yesterday, where
they will attend the wedding of Mrs.
Cavit's sister, which will take place
.oday.
A CHAIJNCEY VICTIM