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Title: Stamps on Ground Rent Deeds
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The Commissioner of Internal Revenue has recently decided that a lone dollar stamp only is required upon a deed conveying property of the value of $1,000 and reserving a ground rent of $60 per annum as the actual payment. The point in disput in this case arises from the additional nominal consideration of one dollar inserted in the deed, but never paid. The stamp tax on deeds expressing a consideration between $1,000 and $1,500 is $1,50, and some collectors argue that this nominal increase of $1,000 requires the payment of $1,50. The instructions from the Internal Revenue Department, however, decide that the tax must be regulated by the actual and not the nominal consideration.


[Page 72 of scrapbook.]

Date: 6/10/1869
Origin: Warren Republican
Author:
Record ID: 00001713
Type: Periodical
Source Archive: Warren County Historical Society
Date Entered: 8/10/2001
Collection: Clippings scrapbooks
Entered By: Leslie J. Rice

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