Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1917-12-03
DOCUME NTARY TAXES
ARE NOW IN EFFECT

WASHINGTON, Dec. 3. - Docu-
mentary stamp taxes of the war tax
gill went into effect Saturday. Revenue
STAMPS must be affixed to bonds o.!
indemnity or Indebtedness, capital
stock issues, stock transfers, produce
sales on exchanges, drafts, promissory
notes, conveyances and deeys, custom
house entries, steamship tickets, proX-
les, assignments of power of attorney,
playing cards and parcel post pack
ages. None are required on checks.
All stamps are sold by postoftices
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
The taxes 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 a large revenue, and which will
fall heavily on stock exchanges, the
tax is two cents for each 800 Or frac-
ton Of the face value Stamps are to
be affixed to the stock books. not 10
the certificates of sale or eXchtnge.
For produce sales on exchanges the
tax is 2 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 transferred or scratch sales
and sales for future delivery.
Bonds of Indebtedness are taxed $
cents for each 500 of face value or
fraction and renewals are taxed as
new issues.
Indemnity and surety bonds are sub
ject to a tax of 80 cents, or one per
cent of the premium charged for the
execution of the bond Bonds or
policies 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 fraction,
To meet the practice in some states
of issuing stock without face value,
il is specified that the tax shall be
laid on actual value if there is no face
value.
For drafts or checks payable other
than at sight or on demand, and for
promissiry notes and their renewal,
the tax is 2 cents for each 800 o.
fraction. This levy will lay a burden
particularly on the banking business.
Ordinary checks are not taxable
Realty conveyance and deeds are
taxed 90 cents where the value of the
interest conveyed is between $500 and
$500, and 80 cents for each additional
$500 or fraction. Deduction may be
made of only lien or encunbranca
remaining on the property at the time
of the sale.
Before any parcel post package may
be accepted by a post office it must
bear, in addition to the regular post
age, revenue STAINS amounting to one
cent for each % cents postage or frac-
ton.
The entry of goods at customs
house for consumption or warehous-
ing is taxable % cents when the value
is not more than $500, 50 cents when
the value is between $500 and $500,
and 81 when the value exceeds $500.
Passage tickets to trans Atlantic,
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 be
ween $40 and $780, to s. for tickl.s
costing more than $50.
Proxies for voting at any meeting.
except of religious, charitable. fra
ternal, educational or literary organ
izations, must bear 10 cents revenue
stamps For power of attorney the
tax IS % cents. In addition to the old
tax OF cents on playing cards, a new
levy OF cents a pack is imposed.