The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1912-09-05

l. tax on the transfer of stocks in
corporations not to exceed cents
share.
2. A tax on the organization of do
excepting banks. fraternal insurance
companies. and building and loan or
homestead association. not to exceed
| ten dollars fiat, plus not to. exceed one
twentieth of one per cent of the author
lied capital stock and surplus, which tax
| shall be levied upon increases of capital
stock as well as upon original issues
g. A tax on private corporations, or
ganiZed for profit for the privilege Of eX-
ercising corporate functions. not to ex-
| coed one-twentieth of one per cent per
| annum the outstanding capital stock
and surplus excluding banks. fraterna'
and life insurance companies and build
| ing and loan or homestead associations;
no such tax to be less than five dollars.
| On foreign corporations this tax shall
| be levied such proportions of their
| capital stock and surplus as is used In
| this State in intra-State business. In
| lieu of the franchise tax on capital and
! surplus, life insurance companies. foreign
| and dorSestic not including fraternal in
surance associations, shall pay annually
100000 of premiums collected in Louis
lana during the preceding year.
| 4. The annual ad valorem tax on all
automobiles and taXicabs, and also on
| all other auto-driven vehicles used for
| transportation of persons freight for
hire, with permission to the local govern
| ment of the residence Of the owner to
levy an annual license tax not to exceed
$500. One-h half Of the proceeds of this
State tax collected from each owner shall
go to the State good roads funds; the
remaining moiety of such tax shall be
paid over by the State to the governing
authority of the locality from which the
machine is registered. to be devoted eX-
clusively by such governing authority to
the improvement of the public highways
within its jurisdiction.
5. A tax on cotton future contracts,
in lieu Of all licenses to future brokers,
of not more than fifteen nor less than
each 100 bales. to be paid on each trans
action, one-half by the buyer and one
half by the seller.
6. A tax on grain, coffee. rice and
sugar future contracts, in lieu of all
licenses to future brokers, of not more
than one and one-half per cent nor less
paid on each transaction. Each unit con-
tract as established by the rules of the
respective exchanges shall be the basis
J of the tax, to be paid. one-half by the
buyer and one-half by the seller.
I. A true, progressive inheritance tax
for the benefit of the General Fund, and
if such tax is levied all beneficiaries shall
be divided into the following classes with
the following maximum exemptions Tor
! each class:
First. ascendants. descendants. and
spouses. with an exemption of $4,000 each,
eXcept as to the widow. when the ex-
emption shall be $4,000. and except as to
children under the ages OF sixteen, when
widows marital fourth shall be exempt.
Second. collateral relations of the sec
ond degree. including nephews and
estate is divided by roots, with an ex-
emption of 81 900 to each root and daugh-
ters-in-law with an exemption OF 81, ood
each.
Third collateral relations of the third
: degree, excluding nephews and nieces
; and their representatives, with an eX-
emption of $500 each.
: Fourth. all other collateral relations
! within the sixth degree inclusive, with
an exemption of $3.50 each.
Fifth, strangers and all collateral re-
lations beyond the sixth degree, with ar
Tl exemption of 500 each.
The maximum rate of the progressive
tax shall not exceed eight per cent for the
first class, twelve per cent for the seeo ono
twenty five per cent for the fourth class
and thirty per cent for the fifth class
e maximum rates to be attained when an,
inheritance. legacy, or donation exceed.
:, a half million dollars
u And the minimum rates of such ia,
shall be one per cent for the first class
: class. three and three-fo urths per cen
i for the third class, seven per cent for the
: fourth class. and thirteen per cent fol
o the fifth class Whenever the rate o
g ance, legacy. Or other donation. when de
!, Quoted from said inheritance. legac!
or other DONATION, would leave tn'
: beneficiary smaller net amount thai
d he would have received had the In
), heritance, legacy or other donation fallel
e into the next lower class in the classi
= ual cash value, then the rate Of taxation
h shall be first calculated upon the maxi
n mum amount in said next lower class
= and the remaining amount of the inherit
r ance. legacy or other donation shall b
taxed at the rate fixed for the highe
e class into which the inheritance, legacy
: or other donation falls
q Duplication of Inheritance taxes as be
IS tween this State and other States. for
n eign and domestic. shall be avoided b
It the exemption of corporal property be
Y longing to a decedent of this State, an
IS situated outside Of this State, to the ex
If tent of any inheritance tax Of such othe
n State; and by the exemption of incor
poreal rights belonging to non-residen
n decedents, such as shares of stock i
j. Louisiana corporations, notes, bonds an
y evidences Of debt due by Louisiana debt
u ors or bearing on Louisiana property, t
= This tax shall also be applied to all do
) nations inter vivos, the donees to be dl
n vided into the same classes hereinbefor
defined. All donations inter vivos to tn
same person within a period of five year
= shall be taxed as if together constitu
Is ting single donation.
= Legacies and donations inter vivos
is educational, religious or charitable inst
Sc tutions, to trustees for educational. re
70 ligious or charitable purposes, snail b
IN exempt from this tax, unless such dona
in ton. or legacy, shall be more than ha
of the disposable portion Of the tesla
te tors or donors estate in which cas-
I'd the tax shall be imposed upon the entil
y. legacy donation and the legatees {
Of donees shall be considered to be with
the third class.
D. s. Such other special taxes as tt
General Assembly by a vote of two thirt
rs Of all the members elected to each hous
D. may from time to time prescribe.
g.. Article w..
OF /. The General Assembly shall hay
ed power to levy license taxes only on PEI
Id sons, partnerships, associations and col
IN pora tons engaged in business or occups
&c lions that fall strictly under the donna
&C. &c, of the police power, and for that purpo ,
e. pations and to graduate the tax with
+ each class.
is 2. Local subdivisions of the State go'
p. eminent shall have the power to ley
ef licenses on businesses and occupation
or falling strictly within the domain of tt
ne police power as provided in the foreg
MT ing section for the State. save that SUI
n local licenses as may be levied on traf
pc in malt. vinous and alcoholic liquors shs
II. not be less than those levied by the Sta
MT nt nor less than those now or hereafter
ny be prescribed by the General Assembly
nc minimum local licenses.
g. Such local subdivisions as each m:
determine for itself shall also have Il
A. right to levy license taxes, classified al
no graduated with due respect to equal
rs, and uniformity within each class, on :
We businesses and occupations not cover
nd by Section of this Article: save and e
no cept licenses on corporations, person
al firms and associations whose property
De business is among the sources of reven
- reserved to the State. and save and e
ue cept licenses on individuals engaged
tie trades, occupations and callngs involvi
the personal labor or skill Of the pers
O. to be taxed, and not falling within t
,rs domain Of the police power; and save a
nd except corporations. associations, pal
ms nerships or individuals engaged in man
ne featuring or industrial pursuits who
es, n;t.I STOCK or "a nital in business
lily less than five thousand dollars, and n
falling within the domain Of the poll
49, power; and save and except person