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Digital Provenance
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Publisher
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Transcription
DOCUMENTARY STAMP TAX LIABILITY FOR PAYMENT - DEEDS The responsibility for the payment of the tax provided for by Section 3482 of the Internal Revenue Code, falls upon both Vendor and Vendee. Section 3483 makes Section 1809 applicable to the taxes in question. This latter Section-provides that payment.shall be made by any person who makes, signs, sells, etc., certain documents, or for whose use or benefit the same are made, signed or s#ld, etc. Deeds eome within the purview of these Sections, the person who "makes" the deed being the Vendor and the person for whose use sr benefit the deed is made, is the Vendee. (Endler vs. U.S., 110 F.S. 945) . Federal Tax regulations, Section 113*2 states that the parties to the transaction may agree as to which shall pay the tax,, but that such agreement is not binding on the government in the event it is not carried out. (Estimated tax on deed concerning realty of the value of $2,500,000 computed at the ratio of 55j^ for each $500.00 as provided by Section 3482: $2,750.00)
