OCR Text |
Show MUST? PAYSTAMP TAXES All Building Loan Aesoclation Transaction, Trans-action, Held to Be Included In War Revenue Measure Washington, Nov. 11. "Under a ruling rul-ing by Solicitor Johnson of tho treasury, treas-ury, collections from tho war tnx may bo several million dollars In ox-cess ox-cess of the estimates mado 'by Con gross, Tho now ruling will rofiulro payment pay-ment of tho stamp tax on all trans-.actions trans-.actions of buildings nnd loan associations associ-ations throughout tho United States. It Is snid to affect moro than 0400 associations, having nearly 3,000,000 members nnd handling nnuunlly-about nnuunlly-about f1,lfi0,000,000. Tho opinion of tho solicitor differs from tho opinion ot tho commissioner of Internal revenue rev-enue nnd an assistant attorney gen.-ernl gen.-ernl who Interpreted tho rovenua tax of 1S98 though the languago in both laws Is held by loan association ofll corn to bo Identical. It Is probable that an effort will bo mndo by tho associations to fight tho prosont construction of the law. It was pointed out today that the transactions to be taxod are In small amounts, Investigating a vast number num-ber of documents all of which would bo subject i.o tho stamp dultles. |