Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1912-08-30

craft where operated for hire canal for
transportation or irrigation. ana r.ae line
for oil or gas. When the electric light
and power business conducted In cJ2-
junction with any street railroad can be
practically severed from the street rail-
road business for purposes of assessment
| then such severance shall be made by
the Tax Commission and such electric
light and power business sisaR not be a
source of State revenue.
3rd All banks. State and National,
including savings banks, trust banks md
trust companies, and all private bankers
whether individuals or partnerships, save
that the real estate OF all banks and
bankers shall be locally assessed and
taxed. The assessments of the real
estate OF banks and bankers shall be
equalized annually by the Tax Commits
sion to the basis established and in vogue
in each locality where such real estate
is located.
4th. All insurance companies includ-
ing bonding and surety companies. for
eign or domestic, and all persons and
partnerships engaged In insuring persons
or property, save that all the real esln.a
and corporal property Of such companies,
persons or partnerships shall be locally
5th. All sugar refineries, rice mills,
cotton seed oil mills. cotton seed oil re-
fineries and refineries Of petroleum. and
its products. sugar refinery is hereby
defined to be concern that buys and re-
fines raw sugar exclusively. or a concern
that buys and refines more raw sugar
by IT from cane grown and purchased by
Il.
sth All mines OF sulphur. salt or other
minerals, all OIL OF gas wells. all stone
quarries, sand, gravel and shell pits.
g. Only the operative property Of State
sources Of revenue shall be segregated to
the State The General Assembly shall
|, define, In manner not inconsistent with
any provisions of this amendment, what
, the operative property of each such
source Is. Real estate and the improve
ments thereon forming part Of any rail-
house or shop. acquired after July 1.
Z 1912. even though 1t may form part Of
r the operative property OF any railroad,
revenue except by constitutional amend
ment, unless such property had been.
prior to said date. part Of a railroad ter
minal. depot. yard. warehouse or shop.
ton, except as herein sDecified, or except
as may hereafter be directed by vote
Of two-thirds Of all the members elected
to each house Of the General Assembly,
shall be sources Of local taxation.
Article IIi.
The General Assembly shall have power
to levy for State purposes the following
special taxes:
l. A tax on the transfer OF stocks In
!. corporations not to exceed cents
share.
2. A tax on the organization Of do
: nestle corporations. organized for profit,
I excepting banks. fraternal insurance
companies. and building and loan or
a homestead association not to exceed
ten dollars fiat. plus not to- exceed one
: twentieth of one per cent f\the author
: lied capital stock and surplus, which tax
: shall be levied upon increases Of capital
!. stock as well as upon original issues
: 3. A. tax on private corporations, Nor-
: ganized for profit, for the privilege Of ex-
: ercising corporate functions, not TO ex-
n coed one-twentieth OF one per cent PEI
Z annum on the outstanding capital stock
and surplus, excluding banks, fraternal
,. 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
, lbe levied on such proportions OF theii
4 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
n and domestic, not including fraternal In
as fec of ssocS p pRs ON eaei
e 81, 0000 90 Of premiums collected In Louis
= lana during the preceding year.
3 4. The annual ad valorem tax on al
= automobiles and taxicabs, and also OF
I all other auto-driven vehicles used fol
:, transportation of persons or freight fol
hire. with permission to the local govern
. levy an annaal license tax not to exceed
~ $500. One-half of the proceeds of thi
State tax collected from each owner shal
go to the State good roads funds: tn
4
paid over by the State 70 the governinl
lauthority Of the locality from which TIL
tmachine Is registered. to be devoted ex
clusively by such governing authority Z
the Improvement of the public highway
within its jurisdiction.
8 A tax on cotton future contracts
in lieu Of all licenses to future brokers
of not more than fifteen nor less thai
ten cents on each purchase and sale o
each 100 bales to be paid on each trans
faction. one-half by the buyer and one
IS. half by the seller.
o. s. A tax on grain, coffee. rice an
he sugar future contracts. in lieu Of a
lg licenses to future brokers, Of not NOR
K than one and one-half per cent nor les
n paid on each transaction. Each unit con
"a. tract as established by the rules Of tn
ed respective exchanges shall be the basi
u Of the tax, TO be paid. one-half by tn
OF buver and one-half by the seller.
ne 4 A true. progressive Inheritance ia
c. for the benefit Of the General Fund, an
al ~ such tax is levied all benefciaries sha
az be divided into the following classes wit
Of the following maximum exemptions 70
each class:
First, ascendants descendants, an
r spouses, with an exemption OF $1,000 eaci
s. except as to the widow when the ex
emptfon shall be $4,000. and exceVt as {
be children under the ages NJ sixteen. .whe
u the exemption shall be $500 eacn: IN
all Second. collateral relations of the sec
If ond degree. including neDhews an
en- nfeceS and their descendants Wnen IN
n estate is divided by roots, with an es
lai emption Of 81 600 10 each root, and daugf
n lters-in-law with an exemption OF Sl.os
to each.
a Third, collateral relations Of the thin
be degree. excluding neDhews and niece
IS and their representatives, with an 81
cd emotion Of $500 each.
u Fourth all other collateral ,relati0r
cd within the sixth degree inclusive, wit
1s, an exemption of $3.50 each.
he Fifth. strangers and all collateral n
te, llations beyond the sixth degree. with a
ID. exemption of 800 each.
oh The maximum rate of the progressi,
an tax shall not exceed eight per cent for IT
To- first class twelve per cent for the secOr
Ter class sixteen per cent for the third clas
TWENTY-FIVE per cant for the fourth clas
we and thirty per cent for the nth clas
"a maximum rates to be attained when ar
nd inheritance. legacy, OF donation excees
les a half million dollars .
on And the minimum rates OF such e
tut shall be one per cent for the first clas
ity two and one-half per cent for the secoT
ms class three and three-fourths per cel
Of for the third class, seven per cent for Il
yer fourth class. and thirteen per cent 4
the fifth class. Whenever the rate
lon assessment levied against any inheri
Is ance, legacy. or other donation. when d
OF or other donation. would leave II
bly beneficiary a Smaller net amount thu
ie- he would have received had the Il
vo- heritance, legacy or other donation fall,
lch into the next lower class in the class
I1cation according TO amount OF &C
Iual cash value, then the rate OF taxatis
~ shall be first calculated upon the max
as mum amount IN said next lower clas
re- and the remaining amount Of the inheri
- - ~kH~ 1r<~n fffrTI rN4uU