NARCOTIC STAMPS REQUIRED ON OPIUM & COCA LEAVES
Washington, D.C. (JFK+50) On February 25, 1919, a new one cent per ounce tax on opium, coca leaves and their derivatives went into effect in the United States.
While only 5% of the population paid income taxes, they funded 1/3 of the cost of WWI.
"Narcotic Tax Stamps," February 25, 2018, Mystic Stamp Company, www.mysticstamp.com/
Washington, D.C. (JFK+50) On February 25, 1919, a new one cent per ounce tax on opium, coca leaves and their derivatives went into effect in the United States.
According to the Mystic Stamp Company, the Revenue Act of 1918* required "Narcotic stamps" to be "affixed to...packages and cancelled with an abbreviation of the company's name and...registration number" to show that the tax had been paid.
The first stamps were red on white "Documentary stamps" (1914) with the word NARCOTIC printed in black over the face. These temporary stamps were eventually replaced by "specific narcotic stamps."
*Revenue Act of 1918 raised income tax rates in the United States. The lowest bracket went up to 6% while the top bracket was set at 77% of taxable income.
While only 5% of the population paid income taxes, they funded 1/3 of the cost of WWI.
SOURCE
"Narcotic Tax Stamps," February 25, 2018, Mystic Stamp Company, www.mysticstamp.com/
Documentary Narcotic Tax Stamps
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