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72d CONG RESS . SESS . I. CH. 209 . JUNE 6, 1932 . xrscE1 ANE0us xAXFS by striking out " less than 41 cents " wher ever appea ring in s uch paragraph, and inserting in lieu thereof "$3 or less' . Part III-Stamp
Part III-Stamp Taxes taxes . Bond i ssues, et c.
SEC. 721. STAMP TAX ON ISSUES OF BONDS, ETC . Rate increased.
(a) Subdivision 1 of Schedule A of Title VIII of the Revenue Vol.44,p.101.
Act of 1926 is amended by striking out " 5 cents " and inserting in Not applicable to lieu thereof " 10 cents ", and by inserting at the end thereof a new instrument When pay- sentence to read as follows : " The tax under this subdivision shall meats by Installmenth
not apply to any instrument under the terms of which the obligee is required to make payment therefor in installments and is not permitted to make in any year a payment of more than 20 per cen- tum of the cash amount to which entitled upon maturity of the instrument ." Effective date .
(b) Subsection (a) shall take effect on the 15th day after the date of the enactment of this Act . Exemption effective July 1, 1934 . (c) Effective July 1, 1934, such subdivision 1, as amended by sub- section (a) of this section, is amended by striking out "10 cents" and inserting in lieu thereof " 5 cents " . Stock issues, etc . SEC. 722. STAMP TAX ON ISSUES OF STOCK, ETC . Vol.44, p .101.
(a) Subdivision 2 of Schedule A of Title VIII of the Revenue Act of 1926 is amended to read as follows capital stock .
"2 . Capital stock (and similar interests), issue : On each original original issue. issue, whether on organization or reorganization, of shares or certifi- cates of stock, or of profits, or of interest in property or accumu- lations, by any corporation, or by any investment trust or similar organization r by any person on behalf of such investment trust or similar organization) holding or dealing in any of the instruments mentioned or described in this subdivision or subdivision 1 (whether or not such investment trust or similar organization constitutes a corporation within the meaning of this Act), on each $100 of par or face value or fraction thereof of the certificates issued by such Rata,
corporation or by such investment trust or similar organization (or Proviso.
of the shares where no certificates were issued), 10 cents : Provided, Issue without ra ce value . That wher e such sh ares or c ertificat es are is sued-with out par o r face value, the tax shall be 10 cents per share (corporate share or invest- ment trust or other organization share, as the case may be), unless the actual value is in excess of $100 per share, in which case the tax shall be 10 cents on each $100 of actual value or fraction thereof of such certi ficate s (or of the share s where no ce rtific ates w ere issued), or unless the actual value is less than $100 per share, in which case the tax shall be 2 cents on each $20 of actual value, or fracti on the reof, of suc h cert ificat es (or of the share s wher e no certificates were issued) . Attac hing s tamps " The stamps representing the tax imposed by this subdivision shall be attached to the stock books or corresponding records of the organization and not to the certificates issued ." Effective date .
(b) Subsection (a) shall take effect on the fifteenth day after the date of the enact ment of t his Act . Tax ra te effective (c) Effec tive July 1, 1934, such sub division 2, as ame nded by s ub- July 1,1934 . section (a) of this section, is amended by striking out "10cents" wherever appearing in such subdivision and inserting in lieu thereof "5cents", and by st rikin g out "2 cents" and inserting in lieu thereof " 1 cent ". Transfers of stocks, SEC. 723 . ST AMP TAX ON TRAN SFE R OF STO CKS , ETC . etvol. 44, p.101 .
(a) Subdivision 3 of Schedule A of Title VIII of the Revenue Act of 1926 is amended to read as follows
