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so-called transferred or scratch sales), any products or merchandise at, or under the rules or usages of, any exchange, or board of trade, or other similar place, for future delivery, for each $100 in value of the merchandise covered by said sale or agreement of sale or agreement to sell, 2 cents, and for each additional $100 or fractional part thereof in excess of $100, 2 cents: Provided, That on every sale or agreement of sale or agreement to sell as aforesaid there shall be made and delivered by the seller to the buyer a bill, memorandum, agreement, or other evidence of such sale, agreement of sale, or agreement to sell, to which there shall be affixed a lawful stamp or stamps in value equal to the amount of the tax on such sale: Provided further, That sellers of commodities described herein, having paid the tax provided by this subdivision, may transfer such contracts to a clearing-house corporation or association, and such transfer shall not be deemed to be a sale, or agreement of sale, or an agreement to sell within the provisions of this Act, provided that such transfer shall not vest any beneficial interest in such clearing-house association but shall be made for the sole purpose of enabling such clearing-house association to adjust and balance the accounts of the members of such clearing-house association on their several contracts. Every such bill, memorandum, or other evidence of sale or agreement to sell shall show the date thereof, the name of the seller, the amount of the sale, and the matter or thing to which it refers; and any person liable to pay the tax as herein provided, or anyone who acts in the matter as agent or broker for such person, who makes any such sale or agreement of sale, or agreement to sell, or who, in pursuance of any such sale, agreement of sale, or agreement to sell, delivers any such products or merchandise without a bill, memorandum, or other evidence thereof as herein required, or who delivers such bill, memorandum, or other evidence of sale, or agreement to sell, without having the proper stamps affixed thereto, with intent to evade the foregoing provisions, shall be deemed guilty of a disdemeanor, and upon conviction thereof shall pay a fine of not exceeding $1,000 or be imprisoned not more than six months, or both.

No bill, memorandum, agreement, or other evidence of such sale, or agreement of sale, or agreement to sell, in case of cash sales of products or merchandise for immediate or prompt delivery which in good faith are actually intended to be delivered shall be subject to this tax.

6. Drafts or checks (payable otherwise than at sight or on demand) upon their acceptance or delivery within otherwise than at the United States whichever is prior, promissory notes, mandor on de except bank notes issued for circulation, and for each renewal of the same, for a sum not exceeding $100, 2

Drafts checks payable At customhouse.

cents; and for each additional $100, or fractional part thereof, 2 cents.

This subdivision shall not apply to a promissory note secured by the pledge of bonds or obligations of the United States issued after April 24, 1917, or secured by the pledge of a promissory note which itself is secured by the pledge of such bonds or obligations: Provided, That in either case the par value of such bonds or obligations shall be not less than the amount of such note.

Promissory notes given to or issued by Federal land banks or joint stock land banks; article 53, Regulations No. 55, changed. (T. D. 2954.)

Article 58, Regulations No. 55, relating to coupons and

interest notes, amended. (T. D. 2941.) Conveyance.

7. Conveyances: Deed, instrument, or writing, whereby any lands, tenements, or other realty sold shall be granted, assigned, transferred, or otherwise conveyed to, or vested in, the purchaser or purchasers, or any other person or persons, by his, her or their direction, when the consideration or value of the interest or property conveyed, exclusive of the value of any lien or encumbrance remaining thereon at the time of sale, exceeds $100 and does not exceed $500, 50 cents; and for each additional $500 or fractional part thereof 50 cents. This subdivision shall not apply to any instrument or

writing given to secure a debt. Entry of goods

8. Entry of any goods, wares, or merchandise at any customhouse, either for consumption or warehousing, not exceeding $100 in value, 25 cents; exceeding $100 and not exceeding $500 in value, 50 cents; exceeding

$500 in value, $1. Entry for with

9. Entry for the withdrawal of any goods or merchandise from customs bonded warehouse, 50 cents.

10. Passage ticket, one way or round trip, for each passenger, sold or issued in the United States for passage by any vesel to a port or place not in the United States, Canada, or Mexico, if costing not exceeding $30, $1; costing more than $30 and not exceeding $60, $3 ; costing more than $60, $5. This subdivision shall not apply to passage tickets costing $10 or less.

11. Proxy for voting at any election for officers, or meeting for the transaction of business, of any corporation, except religious, educational, charitable, fraternal, or literary societies, or public cemeteries, 10 cents.

12. Power of attorney granting authority to do or perform some act for or in behalf of the grantor, which authority is not otherwise vested in the grantee, 25 cents. This subdivision shall not apply to any papers necessary to be used for the collection of claims from the United States or from any State for pensions, back pay, bounty, or for property lost in the military or naval service, or to powers of attorney required in bankruptcy cases.

Additional regulations, supplementing Regulations No. 55; article 147a. (T. D. 2913.)

drawal from customhouse.

Passage tickets.

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Power of attorney.

Policy of insurance, etc.

13. Playing cards: Upon every pack of playing cards Playing cards. containing not more than fifty-four cards, manufactured or imported, and sold, or removed for consumption or sale, a tax of 8 cents per pack. 14. Parcel-post packages: Upon every parcel or pack


packages. age transported from one point in the United States to another by parcel post on which the postage amounts to 25 cents or more, a tax of 1 cent for each 25 cents or fractional part thereof charged for such transportation, to be paid by the consignor.

No such parcel or package shall be transported until a stamp or stamps representing the tax due shall have been affixed thereto.

15. On each policy of insurance, or certificate, binder, covering note, memorandum, cablegram, letter, or other instrument by whatever name called whereby insurance is made or renewed upon property within the United States (including rents and profits) against peril by sea or on inland waters or in transit on land (including transshipments and storage at termini or way points) or by fire, lightning, tornado, wind-storm, bombardment, invasion, insurrection, or riot, issued to or for or in the name of a domestic corporation or partnership or an individual resident of the United States by any foreign corporation or partnership or any individual not a resident of the United States, when such policy or other instrument is not signed or countersigned by an officer or agent of the insurer in a State, Territory, or district of the United States within which such insurer is authorized to do business, a tax of 3 cents on each dollar, or fractional part thereof of the premium charged: Provided, That policies of re-insurance shall be exempt from the tax imposed by this subdivision.

Any person to or for whom or in whose name any such policy or other instrument is issued, or any solicitor or broker acting for or on behalf of such person in the procurement of any such policy or other instrument, shall affix the proper stamps to such policy or other instrument, and for failure to affix such stamps with intent to evade the tax shall, in addition to other penalties provided therefor, pay a fine of double the amount of the tax.

Documentary stamps prepared and distributed under authority section 22, act October 22, 1914, and section 805 (a), act October 3, 1917, may be used for payment of taxes imposed by this section. (T. D. 2893.)

Regulations relating to tax on foreign insurance policies; in substitution for article 156 of Regulations No. 55. (T. D. 2891.)

The following decisions under former acts are cited for reference:

Post stamping of instruments or documents of any description mentioned in Schedule A after the expiration of twelve months from date of issue, (T. D. 21539, 1889.) 1401849--20-36

Collectors can not remit penalty for omission of stamps where the instrument was presented more than twelve months after it was issued. (T. D. 21368, July 10, 1899.)

The action of collector in stamping the instrument under section 13, act of June 13, 1898, cures the defect and operates retroactively. (T. D. 164, June 27, 1900.)

Instruments to be validated may be sent to collector by mail, with affidavit, instead of being personally brought to the collector's office. (T. D. 20696, 1889.)

Stamping and validating instruments. (T. D. 644, T. D. 749.)

Instruments requiring stamps are not competent evidence in courts unless stamped. (T! D. 21074, 1889.)

Unstamped instruments inadmissible as evidence in Federal courts. (T. D. 474.)

Stamp taxes on export bills of lading unconstitutional. (Fairbanks v. United States, 181 U. S., 283; T. D. 339.)

Tax on telephone messages. (New York Telephone Co. v. Treat, collector, 130 Fed., 340.)

Tax on telegraphic despatches. (Kirk v. Western Union Telegraph Co., 90 Fed., 809.)

Tax on sales of stocks. (United States v. Thomas, 192 U. S., 363 (T. D. 758), affirming 115 Fed., 207.)

The tax on sales of stocks was constitutional. (ChristieStreet Commission Co. v. United States, 129 Fed., 506; 126 Fed., 991.)

Tax on “ calls " or agreements to sell stocks. (Treat v. White, 181 U. S., 264 (T. D. 338), reversing 100 Fed., 290.)

Tax on sales of products or merchandise at exchange or boards of trade, or other similar place, and agreements to sell. (Nicol v. Ames, 173 U. S., 509, aflirming 89 Fed., 144; Ingwersen v. United States, 173 U. S., 509). (The Union Stock Yards of Chicago come within the act as neing an “exchange or board of trade, or other similar place.”)

Tax on bonds. (Ambrosini v. United States, 187 U. S., 1 (T. D. 593), reversing 105 · Fed., 239 (dramshop bonds under State laws not taxable); United States v. Owens, 100 Fed., 70 (saloonkeepers' bonds under the laws of Missouri not taxable) ; Bettmann v. Warwick, 108 Fed., 127 (bond of a notary as a qualification for office exempt); McNally v. Field, 119 Fed., 445.)

Tax on conveyances. (Chesebrough v. United States, 192 U. S., 253 (T. D. 747) ; Mastin v. Mastin, 99 Fed., 435 (T. D, 51) (deed of release executed by a receiver not liable); Central Trust Co. of New York v. Columbus &c Ry. Co., 92 Fed., 919. (The deed requires stamps in proportion to the “consideration of value” of the interest transferred and not to the entire value of the property, where it is conveyed subject to encumbrances.)

Tax on bills of lading. (Fairbank 1. United States, 181 U. S., 283; T. D. 339.) (Export bills of lading not taxable.)

Tax on manifests. (New York & Cuba Mail Steamship Co. v. United States, 125 Fed., 320.)

Tax on express receipts. (Crawford 1. Hubbell, 177 U. S., 404 (T. D. 100), affirming 89 Fed., 961 ; United States v. Wells, Fargo & Co. Express, 96 Fed., 835; American Express Co. v. Michigan, 177 U. S., 404; T. D. 100.)

Tax on insurance policies. (23 Op. Atty. Gen., 210; 22 Id., 318, 376; Buckalew v. United States, 102 Fed., 320; 42 C. C. A., 373.)

Tax on orders for the payment of money. (Granby Mercantile Co. v. Webster, 98 Fed., 604; T. D. 3.)

Tax on charter parties. The tax on charter parties uncoustitutional as applied to vessels engaged in the export trade. (Hvoslef v. United States, 237 U. S., 1 (T. D. 2186), affirming 217 Fed. 681.)

Policies of marine insurance. The stamp tax on policies of marine insurance on exported products unconstitutional as a tax on exports. (Thames & Mersey Marine Insurance Co. v. United States, 237 U. S., 19 (T. D. 2187), overruling 217 Fed., 683 (T. D. 2009).

Stamps on referee's deed. Tax on deeds executed by State officers not an interference with their duties or operation of State government. (Home Title Insurance Co. v. Keith, collector, 230 Fed., 905; T. D. 2310.)

Stamps required on master's deed. (Crawford, as trustee, v. New South Farm & Home Co., 231 Fed., 999; T. D. 2253.)

Powers of attorney in bankruptcy proceedings required to be stamped. (In re Capitol Trading Co., 229 Fed., 806; In the Matter of Charles A. Hawley, 220 Fed., 372; T. D. 2145.)

Stamp tax on sales, agreements to sell, and agreements of sale. Section 22, act of October 22, 1914. Two hundred per cent penalty. Relief by injunction denied. (Kohlhamer 1. Smietanka, 239 Fed. 408.)

Board of trade transactions. (Calkins 1. Smietanka, 240 Fed., 138.)

Omission to attach required stamp to an instrument did not render it invalid unless omission was fraudulent or designed to evade tax. (Campbell v. Wilcox, 10 Wall., 421; United States v. Buzzo, 18 wall., 125.)

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