The Natchitoches enterprise., 1912-10-31
. .f'f1Ey
nestle corporations, organized
excepting banks. fraternal

excepting DankS. iTdteIHdl
companies, and building and
homestead association. not
ten dollars fiat, plus not to exc
twentieth of one per cent or theA VIC C@
lied capital stock and surplus, WIS S,aA
shall be levied upon increases or capltdl
stock as we'll upon original issues.
s. A tax on private corporations. or
ganized for profit, for the privilege OF eA-
ercising corporate functions, not TO eX-
coed one-twentieth of one per cent per
annum on the outstanding capital stock
and surplus, excluding banks, fraternai
and life insurance COMPANIES and oulId-
ing and loan or homestead associations;
no such tax to be less than five dollars.
On foreign corporations this tax shal'
be levied on 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 ana
surplus, life insurance companies, foreign
and domestic, not including fraternal IN
surance associations, shall pay annually
fiat fee of $4,000 plus 81. so on each
$40, 900. 90 of premiums collected in Louis
lana during the preceding year.
T. The annual ad valorem tax on all
automobiles and taXicabs, and also on
all 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 to the State good roads funds; the
remaining moiety OF such tax shall pc
paid over by the State to the governing
authority of the locality from which the
machine is registered, to be devoted ex-
cIusively by such governing authority to
the Improvement of the public highways
within it's jurisdiction.
5. A tax on cotton future contracts,
in lieu of all licenses to future brokers,
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
half by the seller
g. A tax on grain, coffee, rice and
sugar future contracts, in lieu of all
licenses to future brokers, of not more
than one and ene-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
respective exchanges shall be the basis
! of the tax, to be paid. one-half by the
buyer and ene-half by. the seller -.
T. 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 TOT
| each class:
First, ascendants, descendants. and
spouses, with an exemption a s2'Oo0 each'
| except as to the widow, when the ex-
| emption shall be $4,000. and except as 70
children under the ages Of sixteen, when .
the exemption shall be $4,000 each. The
widows marital fourth shall be exempt.
Second, collateral relations r or the sec sec
nieces and their descendants when the
estate is divided by roots, with an eX-
emption of 81, 900 to each root, and daugn n n
. ters-in-law with an exemption OF $l,eVO
each
Third, collateral relations Of the third
degree. excluding nephews and meces
and their representatives, with an ex-
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 an
! exemption of 500 each.
| The maximum rate of the progressive
| tax shall not exceed eight per cent for the
class, sixteen per cent for the third class,
! twenty-five per cent fer 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 tax
shall be one per cent for the first class,
two and one-half per cent fer the second
class. three and three feurths per cent
! for the third class, seven per cent for the
fourth class, and thirteen per cent TOT
| the fifth class. Whenever the rate OF
assessment levied against any inherit
ance, legacy, or other donation, when de-
! Quoted from said inheritance, legacy
! or other donation, would leave the
he would have received had the IN
heritance, legacy or other donation fallen
into the next lower class in the classi-
I! fcation according to amount OF act
nal cash value, then the rate OF taxation
shall be first calculated upon the maxi
mum amount in said next lower class
and the remaining amount of the inherit
4 ance legacy, or other donation shall b
i taxed at the rate fixed for the highel
class into which the inheritance, legacy
Tor other donation falls.
Duplication OF inheritance taxes as be
tween this State and other States, for
eign and domestic, shall be avoided o!
the exemption of corporeSl 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 othe
State: and by the exemption OF Incor
pereai rights belonging to non-residen
decedents, such as shares of stock II
Louisiana corporations, notes, bonds, AM
evidences of debt due by Louisiana oeDt
ors or bearing en- LOUISIANA property U
This tax shall also be applied to all do
nations inter vivos, the denees to be al
J vided into the same classes hereinbefor
defined All donations inter wives to tn
same person within a period OF fve year
shall be taxed as II together constttu
) ting a single donation
Legacies and donations inter viVos {
educational, religious or charitable lnstl
: tutiens, or to trustees for educational, re
! ligious or charitable purposes, shall
! exempt from this tax, unless such dona
ton, or legacy. shall be more tnan ma
: tors or donors estate, in which cas-
the tax shall be imposed upon the entlr
, legacy or donation and the legatees q
T donees shall be considered to be within
s. Such other special taxes as tn
General Assembly by vote of two third
3 of all the members elected to each nous
may from time to o., time ,p prescribe
I The General Assembly shall hav
! power to levy license taxes only on pei
] sons, partnerships, associations ana COZ
n porations engaged in business or occupa
g lions that fall strictly under the donal
. of the police power, and for that purpos
s to classify ali such businesses and occu
pations, and to- graduate the tax withl
8 3. Local subdivisions of the State gov
) eminent shall have the power to LieV
r licenses on businesses and occupatlor
r falling strictly within the domain OF Tn
e police power as provided in the foregr
t ing section for the State, save that sue
local licenses as may be levied on IRAN
e in malt, vinous and aleohoic liquors sha
: not be less than those levied by the Stal
I nor less than those new or hereafter
y be prescribed by the General Assembly z
c minimum local licenses.
a 3 Such local subdivisions as each ma
determine for itself shall also have TT
!. right to levy license taxes, classified ar
q graduated with due respect TO equanl
), and uniformity within each class, on q
e businesses and occupations not covere
d by Section 2 of this Article; save and e.
d cept licenses on corporations, person
u firms and associations whose property
e business is among the sources OF reyeni
: reserved to the State, and save and. e.
e cept licenses on individuals engaged
e trades, occupations and callings involvir
the personal labor or skill OF the persII
/ TO he taxed and not falling within II
: domain of the police power; and save ar
d except corporations associations, par
IS nerships or individuals engaged in mani
e featuring or Industrial pursuits who
5, "a initial stock, or capital in business,
y less than FIVE thousand dollars, and n
failing within the domain of the poll
3, power; and save and except person
= firms and corporations engaged in agr
q cultural or horticultural pursuits. In !