The Seward gateway daily edition, and the Alaska weekly post., 1919-06-11
TAXES IMPOSED
 ON ALL SALES
 IN TERRITORY

The recent session oE the Alaska legislature assembly, casting about for ways and means of increasing the ter rito,y's revenue. passed q law entitled An act to provide revenue for the government Of the territory of AIasEl by imposing and collecting tax upon profits derived from the sale of prop erty within the territory and provjd, ng means for the collection and en- iorccment Of same"
 lu, 5..} S. passed follows:
 Soc. 1. That there shall be levied assessed collected and paid tax of per ccntum upon all profits in cxccs# of one thousand dollars ($l'00O) TO. ccivcd after this act shall bccom" ct- rcctivr upon all sales and contracts to sell rcal estate or other capital asses
 ituatcd in the Territory of Alaska Whether the sale OF contract oI sale and payment be made within or with put the territory. The term "rcal cs- tate" shall include mines sites fish ng and manufacturing sites and ali ightS acquired under the public land laws of the United States and al buildings. manufacturing and rcdu' .iou plants. railways. tramwayS. pipe ,r other transmission lines, drcdgrS' -ha;vcs. piers and docks and all the improvements machinery and equip ncnt placed thereon. The term "capi. al assets" shall include fish traps ana 'ishing rights and privileges timb'' sold scncratc from the real estate boats. scows and bargcs and all pcr ,onal property held as an invcatmcn. p, used in the transaction of business, ls distinguished from ores and min erals. fish and fish products forc+j products. and other merchandise and personal property sold in tho ordinary
 ansaction of any business for which ! license is paid to the territory an" { k hereby declared to ne not the in
 cntion of this act to impOs" any ad 'ional tox upon profits obtained |"
 he rdinary transaction of any bust ness for which a license tax iS i'm ,oscd by the laws Of Alaska. For the purpose of asccrtaining th" %1i0 H. oss resulting from the saio O" othn
 liSpsi,ion of property, real or p''
 oual., acquired prjor to thc first da} If March l91% the fair market valn If such property aS of that date Sha' 1a deemed it's purchase price and used for the basis of determining tn, mount of such gain or loss. If th" consideration be paid otherwise than
 money, the fair market value of tht
 consideration at the time received
 hall be deemed the selling price for
 he computation of the amount of tho tax.
 Sec. ,. A lien is hereby declared md imposed in favor of the Territor' If Alaska urOn all property and prop. arty rights within the territory for hc laymcrt of any tax imposed by this 9ct. and the purchaser of any such property may pay the amount of such ax and deduct tho same from the pur- ! csc price, or the territory may en. 'orcc such lien by appropriate action n the courts Of tho territory in th" manner provided for the Foreclosure Of mortgages. Any person CT persons partnerShips, association or corpora ion receiving all or any part of the purchase mice or other consideration 'or or on account of any such sale or | contract Of sale shall make a true and l complete return. under oath. to the | territorial treasurer. upon such forms 1 and according to such regulations as the territorial treasurer may prescribe reciting in detail such official in orda' to compute the amount of such tax Such return shall be made within thir- ty days after receipt of the purchase price or other consideration, but if the same be paid upon installments' then