Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1912-10-25

corporations not to exceed cents
share.
nestle corporations. organized for profit.
excepting banks, fraternal insurance
companies, and building and loan or
homestead association. not TO exceed
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 on the outstanding capital stock
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 on such proportions Of their
capital stock and surplus as Is used In
this State in intra-S State business. In
lieu of the franchise tax on capital ano
surplus, life insurance companies. foreign
and domestic. not including fraternal in
surance associations, shall pay annually
a fat fee of $4,000 plus 81 50 on each
SO, 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
ali other auto-driven vehicles used for
transportation Of persons or 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-half of the proceeds Of this
State tax collected from each owner shall
go 70 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.
s. tax on cotton future contracts.
In, - oil fO
Of not more than fifteen nor less than
ten cents on each purchase and sale Of
each 100 bales, to be paid on each trans
action, one-half by the buyer and one
s. 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
than one per cent on the commissions
paid on each transaction. Each unit con-
tract as established by the rules OF the
Of the tax. to be paid, one-half by the
buyer and one-haf by the seller.
Z. A true. progressive Inheritance tax
| for the benefit Of the General Fund, and
| II 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
except as to the widow, when the ex-
| emption shall be $4,000. and except as 10
children under the ages OF sixteen, when
Widows marital fourth shall be exempt.
Second, collateral relations of the sec
ond degree, including nephews ana
nieces and their descendants when the
estate Is divided by roots, with an ex-
emption Of 81. 900 TO each root, and daugh-
! ters-in-law with an exemption OF $1,000
each
Third, collateral relations Of the third
degree. excluding nephews and nieces
i and their representatives. with an ex-
emption Of $500 each.
! Fourth. all other collateral relations
within the sixth .S Ssgrse inclusive win
! Fifth, strangers and all collateral re-
/ lations beyond the sixth degree, with an
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 second
class, sixteen per cent for the third class
twenty-five per cent for the fourth class,
and thirty per cent for the fifth class,
maximum rates TO be attained when any
! inheritance. legacy. or donation exceeds
a half million dollars.
And the minimum rates OF such taS
shall be one per cent for the first class,
4 two and one-half per cent for the second
class three and three-fourths per cent
+ for the third class, seven per cent for the
! fourth class and thirteen per cent for
! the fifth class. Whenever the rate oil
assessment levied against any Inherit
ance, legacy. or other donation, when de-
Quoted from said Inheritance. legacy
/ or other donation, would leave the
beneficiary a smaller net amount thar
he would have received had the IN
/ heritance, legacy or other donation fallen
ncation according to amount Of act
! ual cash value, then the rate OF taxation
shall be FIRST calculated upon the maxi
mum amount in said next lower class
ance. legacy, or other donation shall bt
| taxed at the rate fixed for the higher
class into which the inheritance, legacy
| or other donation falls.
Duplication OF inheritance taxes as be-
tween this State and other States. for
eIgn, and domestic, shall be avoided By
the exemption Of corporal property be,
longing TO a decedent Of this state. ant
situated outside Of this State. to the ex.
tent Of any inheritance tax OF such othel
State: and by the exemption OF incor.
poreal rights belonging to nonresident
decedents. such as shares Of stock II
Louisiana corporations, notes, bonds, and
evidences Of debt due by Louisiana debt
ors or bearing on Louisiana property, t.
the same extent.
This tax shall also be applied to all do.
nations inter vivos. the donees to be a.
vided into the same classes herefnbefor'
defined. All donations inter vivos to thu
same person within a period OF nve year
shall be taxed as II together constitu'
Legacies and donations inter vivos 4
educational, religious OF charitable tnstt
buttons, or to trustees for educational, re
ligious or charitable purposes. shall b
exempt from this tax, unless such dona
ton. or legacy, shall be more than hal
of the disposable portion Of the tesla
tors or donors estate. In which cas-
the tax shall be imposed upon the entir'
legacy or donation and the ,legatees o
donees shall be considered to be within
the third class.
s. Such other special taxes as tn
General Assembly by q vote OF two-thiro
of all the members elected TO each housl
may from time to time prescribe.
Article ~.
l. The General Assembly shall hav'
power to levy license taxes only on per
sons, partnerships associations and cor
porations engaged in business or occupa
lions that fall strictly under the domain
of the police power, and for that purpos
to classify all such businesses and occu
pations. and to graduate the tax within
Z. Local subdivisions Of the State gov
eminent shall have the power to lev.
licenses on businesses and occupation
falling strictly within the domain Of tn
police power az provided In the forego
ing section for the State, save that sucl
local licenses AZ may be levied on tram
in malt, vinous and alcoholic liquors shal
not be less than those levied by the Stat
nor less than those now or hereafter Z
be prescribed by the General Assembly q
minimum local licenses.
g. Such local subdivisions as each ma,
determine for itself shall also have tn
right to levy license taxes. classified an
graduated with due respect to equalit
and uniformity within each class, on Al
businesses and occupations not covere'
by Section z Of this Article: save and ex
cept licenses on corporations, persons
firms and associations whose property o
business r. among the sources OF revenu
reserved TO the State, and save and ex
trades, occupations and callings involving
| the personal labor or skill OF the perSo