The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1920-06-03

the selling price 8 IN excess 81 face
value. n vhrh casc the tax shan be
tvo cents on each $40 or fraction
thereof 81 TIE selling prize Where
the shares are without face value the
Tax shall b. 20 cents on each share
unless the selling price is IN excess q
500 per share. IN which CASE the tax
shall be two cents on each SO Or frac-
iion thereof Of the selling price.
+ After December I. 1929. the tax will
be two cents on each 500 or fraction
thereof OF face value unless the selling
lprioe Is in excess Of the face value.
vhea the tax shall be two cents on
each 500 or fraction thereof Of the
selling price In eases Of shares with
out face value. the tax is to b. two
cents on each share Unless the selling
price exceeds 800 per share. in which
case the tax shall b two cents on each
Sioo or fraction thereof Of the selling
prize
The sections relating TO produce
exchange tax" provide that on each
sale or agreement 10 sell any products
or merchandise under the rules and
usages Of any exchange or board Of
iradt FOR future delivery. the tax shall
be rs follows:
Between December /, 1920. and
November 20. 1923. two cents for each
$40 or fraction thereof Of the selling
price Of the products covered by the
sale or agreement. After December ]
1923, the tax is to be two cents for
each 500 or fraction thereof Of the
selling price.
The real estate tax is to be FIVE cents
for each SO or fraction thereof on re-
ceipts for payments on sales Of real
estate. This provision covers the
period between December /, 1920, and
November 80, 1923.
The tax on the manufacture Of to-
bacco is to be levied between Deem
Der /, 1920, and November 30, 1923.
This tax, in addition to that now re-
quired, is as follows:
On cigars not weighing more than
three pounds per 1000, % cents per
900; on cigars weighing more than
three pounds per 1000, If manufac-
tured or imported TO retail NJ not
more than FIVE cents each, so cents per
1000; on cigars to retail at more than
eight, and not more than IS cents,
$3.50 per 600; on cigars to retail at
more than Is cents and not more than
20 cents. 81 per 1000. on cigars to
retail az more than 20 cents. 50 per
900.
Cigarettes weighing not more than
three pounds per 1000 are assessed
81 per 900, and cigarettes weighing
more than three pounds per / 900 are
assessed so cents per 1000 additional.
On tobacco and snuff the additional
tax Is two cents per pound.
The stock dividend provisions re-
quire every corporation to pay a spec
lei excise tax on an dividends declared
and paid by It on its own shares after
March 10. 1920, Of $40 for each 500 I
q the par or face value or fraction Of /
the shares If the dividends are de-
clared without par or face value, the {
tax is TO be computed at the rate Of 7
$40 per share unless the actual mar
ket value is in excess Of 500 per
share, in which case the tax shall be I
computed at the rate Of $40 on each |
500 Of such actual value or fraction
thereof
These taxes are designed as "Vic-
tory taxes"
Each veteran Of the World War is
10 have the right to avail himself Of
any one. but only one, of the follow
ing plans: ]. To receive adjusted ser
vice pay, or in other words. cash
bonus q To receive an adjusted SER
vice certificate which has face value
equal to the adjusted service pay plus
10 per cent with interest, payable for
20 years at the rate of four and one
nalf per cent per annum compounded
annually, such amount being approx
IN tely equal to 1928 times the adj
iusted service pay Of the veteran.
The amount Of the face value Of the
shall be payable to the vet
iran twenty years after the date Of
application or. If he should die during
hat period. to his beneficiary. 3. To
receive vocational training aid. I. To
'cceive farm or loan aid. 5. To receive
and settlement aid.