OCR Text |
Show New War Stamp Taxes Already Gone Into Effect Counted on to Raise Hundred Million Dollars Annually Accounts of Transactions Must Be Strict. Washington, Dec. 1. The war stamp taxes counted upon by treasury officials to produce $100,000,000 annually an-nually as part of the great revenue 'measures enacted by Congress last October became effective today. From the beginning of today's business hours, every broker, exchange, ex-change, clearinghouse and person engaged en-gaged in stock, produce or merchandise merchan-dise transactions must keep strict account ac-count of the taxable dealings. The internal revenue bureau has issued comprehensive regulations to govern the collections. The taxes do not apply ap-ply to bonds, notes or other instruments instru-ments issued by the United States, by any foreign government or by any state or similar governmental sub-! sub-! division or to stocks and bonds of cooperative co-operative building and loan associations, associa-tions, operated exclusively for their members and loaning only to their shareholder's or to mutual ditch or irrigation companies. The taxes includes: Indemnity and surety bonds, 50 cents, except where premium is charged for execution execu-tion of the bond the tax will be 1 per cent on each dollar of the premium and reinsurance policies are exempt. Capital stock issue, 5 cents on each $100 of face value; sales or transfers, 2 cents per $3 00 ; produce sales on exchange or agreement "for future delivery," 2 cents per $100 or fraction over $100. Draft or checks "payable otherwise than at sight or on demand, promissory promis-sory notes except banknotes issued for circulation and for each renewal," renew-al," 2 cents per $100; deeds and conveyances, con-veyances, 50 cents per $100-$500 and 50 cents each additional $500 with all debit papers exempt. Customs house entries 25 cents per $100 to $1 per $500; withdrawals 5 0 cents; steamship tickets, $1 to S5; election proxies, 10 cents; power of attorney, 25 cents. Playing cards, 5 cents per pack, in addition to present 2 cent taxes; parcels par-cels post packages, 1 cent for each 25 cents charged. |