CODE SECTIONS 1800-1838, 3480-3483; REGULATIONS 71 (DOCUMENTS); REGULATIONS 66 (PLAYING CARDS); REGULATIONS 85 (SILVER BULLION)
CERTAIN TAXES, payable by the purchase and use of stamps, are imposed upon the issuance, sale, or transfer of stocks and bonds, conveyances of real estate, sales of playing cards, the issuance or renewal of foreign insurance policies, and the transfer of an interest in silver bullion.
Upon the issuance of shares or certificates of stock by a corporation, investment trust, or similar organization, a tax of eleven cents is imposed on each $100 of par value, or fraction thereof. If the shares have no par value, the tax is imposed on each $100 of actual value, or if actual value is less than $100, three cents on each $20 of actual value. This tax does not apply to the issuance of rights to subscribe for shares or to new certificates which have been exchanged for old if the interest they represent in the enterprise is the same. This last holds good even though there has been a reorganization, provided that in the course of it no new capital was added. Payment of the tax is evidenced by documentary stamps affixed to the stubs of the issuer's stock book, not to the certificates issued.
Similarly, upon the issuance or renewal by a corporation of a bond, debenture, or other certificate of indebtedness and upon the issuance of corporate securities bearing interest coupons or in registered form, the tax is eleven cents on