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Pennsylvania Revenue Stamp & Indi. Intangible Revenue Stamp?

 
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Rest in Peace
United States
7097 Posts
Posted 10/12/2012   08:24 am  Show Profile Bookmark this topic Add I_Love_Stamps to your friends list Get a Link to this Message
I found this revenue stamp/stub in a huge pile of neat stuff I recently acquired and would like to positively I.D. it. Anyone ever see such a stamp before?



Indiana "intangible" revenue stamp. What is intangible that can be taxed? I have no idea what this was used for? Anyone know?

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Pillar Of The Community
United States
1495 Posts
Posted 10/12/2012   08:46 am  Show Profile Bookmark this reply Add Trainwreck to your friends list  Get a Link to this Reply
Florida used to have an intangible personal property tax that was based on the value of certain investments (stocks, bonds, mutual funds, etc.).
Regards, Robert
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Bedrock Of The Community
United States
12128 Posts
Posted 10/12/2012   10:01 am  Show Profile Bookmark this reply Add wt1 to your friends list  Get a Link to this Reply
The 1942 Indiana Intangible Tax Stamp is SRS #IN D74.

The State of Indiana definition for "Intangibles" that were subject to use of said stamps:


Quote:
Intangibles, such as bonds, mortgages, out of state bank deposits, notes and other forms of indebtedness, are taxable at the rate of 25 per cents per $100 valuation.
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Edited by wt1 - 10/12/2012 10:12 am
Bedrock Of The Community
United States
12128 Posts
Posted 10/12/2012   10:06 am  Show Profile Bookmark this reply Add wt1 to your friends list  Get a Link to this Reply
A quote from an article on State Revenue stamps that may help to identify the one scanned from Pennsylvania:


Quote:
The stock transfers are not the only category of stamps from Pennsylvania which were printed on paper with a security design. The bedding and upholstery stamps also had paper security designs. These stamps are among a number of state revenues whose purpose lies hidden from the casual collector. The words bedding and upholstery appear nowhere on the stamps. Only the "Department of Labor and Industry" gives a clue to their real purpose, to pay a nominal fee or tax on both new and used mattresses or upholstered furniture.

Further they are color coded. The stamps on orange papers were to be used on second hand mattresses or upholstered items to certify that the user had complied with the state's rules on fumigation of these items. Frequently the tags on which the stamps were placed were a similar color (the state says yellow tags were required). New mattresses and upholstered furniture were required to use a white tag with a stamp printed on green papers. The use of stamps became optional in 1961.
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Edited by wt1 - 10/12/2012 10:07 am
Pillar Of The Community
2361 Posts
Posted 10/12/2012   11:20 am  Show Profile Bookmark this reply Add doug2222 to your friends list  Get a Link to this Reply
The States' various Intangible taxes were truly reprehensible in terms of constitutionality. But they were very profitable. Follow the money.

Here's a selection of the Florida stamps referenced above, plus a few Fertilizer Inspection stamps. Every time there was a change in appointed officials (in this case, Comptroller or Commissioner of Agriculture), you got a new series of stamps.

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Rest in Peace
United States
7097 Posts
Posted 10/13/2012   05:16 am  Show Profile Bookmark this reply Add I_Love_Stamps to your friends list  Get a Link to this Reply
That's a lot more than I expected on both of these...thank you very much.
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