1954, 5/8oz Tobacco Strip, Series 124
# TG1050b - 1954, 5/8oz Tobacco Strip, Series 124
$2.50
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Tobacco Stamps- Neat Revenue Stamps, Missing from Many Collections! |
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| In 1862, Congress began creating new taxes to help with the expense of fighting the Civil War. Taxes were typically added to products considered "sinful" - such as tobacco and alcohol. Stamps proving the tax had been paid - thus, "taxpaids" - began in 1868 for tobacco products. They were more formally known as "excise taxes." This was just one way government revenue was raised. | |
| Along with taxing the sale of the products themselves, the U.S. government also began requiring a license for people or companies that created or sold these products. "Special Tax Stamps" indicating these licenses had been paid were first issued in 1873. |
Tobacco Stamps- Neat Revenue Stamps, Missing from Many Collections! |
|
| In 1862, Congress began creating new taxes to help with the expense of fighting the Civil War. Taxes were typically added to products considered "sinful" - such as tobacco and alcohol. Stamps proving the tax had been paid - thus, "taxpaids" - began in 1868 for tobacco products. They were more formally known as "excise taxes." This was just one way government revenue was raised. | |
| Along with taxing the sale of the products themselves, the U.S. government also began requiring a license for people or companies that created or sold these products. "Special Tax Stamps" indicating these licenses had been paid were first issued in 1873. |