The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-09-13


y sessed value Of real estate locally as
q sessed and taxed, and less such furthe
: deductions of not less than five per ceI
4 on their loans and discounts to cover ba
= debts and unearned interest as the Gen
Q eral Assembly may prescribe, which de
Q duCtioh. shall be made only from thei
+ surpluA and undivided profits; all take
1 TO be paid by the banks and charged t
the stockholders.
. 4. Individual bankers, banking firm
5 and uninCorporated banking associations
domicied in this State, shall be assessed
on the amount Of capital, surplus an
undivided profits actually employed II
their business, less the assessed value o
real estate locally assessed and taxed
taCtuaiiy and exclusively used and EN-
pIoyed in their business, and less such
further deductions not less than five pei
cent on their loans and discounts Il
cover bad debts and unearned interest as
the General Assembly may prescribe
which deduction shall he made only from
their surplus and undivided profits.
| ,. Foreign banks and individual bank
eFS, banking firms and uniucOrporated
! banking associations, domicIed out Of the
state but doing business in this state,
I SHAH be assessed on such proportion of
! their capital, surplus and undivided
Profits as is actually employed in this
State. less the assessed value Of real es-
tate locally assessed and taxed, actually
ana exclusively used ana employed in
. their business in this STATE. and less
such further deductions, not less than
I'VE per cent on their loans and dis
counts. 10 cover had debts and unrarn-
ed interest as the General Assembly
may prescribe, which deductions shall
ne made only from their surplus and un-
divided profits
e. Insurance. bonding and surety COM
pahleS, ana persons, firms and associa-
lions engaged in the insurance, bonding
ana surety business, excluding however,
lralernat insurance companies and asso-
cations Shall be taxed on percentage
OF their gross premiums received upon
theif business done in this State less
return premiums and reinsurance In com
pahieS or associations authorized TO do
business in this State. The percentage
aforesaid snail not exceed three per cent
lor all branches Of insurance bonding
ana ;ns,, surety business, except life and
industrial insurance and shall not ex-
ceed TWO per cent for life and Industrial
insurance. The special taxes to supDort
Tue once N fire marshal and fire pre- |
!ention bureaus shall not be deducted
from the premiums hereby authorized to
De taxed. When by the laws Of any other /
state or country any taxes, fines nnr-
ilties, licenses, fees. dcposits Of money |
or o, securities, or other obligations or
are imposed on insurance
oonH'hg or surety companies of this State
long business In such other State or
'ouhtrN, or upon their agents therein in
excess OF such taxes. penalties. fees H.
,tnSeS oenosltS OF money. or Of securi-
les, or other obligations or Orohihitions
imposed upon such insurance. bonding
VI surety companies of such other State
II country, so long as such laws continue
n l"Fce The same obliga tons and nrohi-
lu"nS OF whatsoever kind may he i'm
,osed by the General Assembly Of this
,sale upon insurance. bonding or surety
companies Of such other State or country
long business in this State
T. irrigation canals shall he taxed IN
percentage not 70 exceed two per cent
\ theiF gross receiOts. only such real es
ale end the buildings and structures
herenn, rights Of way machinery. tools
nv lnin'ements as are necessary to the
peratlon Of any canal shall be incyuda5 {
n and covered by this tax on gross ra-
elotS All other real estate and personal {
forertv of the owner of anv cana, shau S
q locally assessed and taxed. S
o. All sugar refinerfeS rice mills rot | z
IN seed oil mills cotton seed oil re- 2
iherles and reftneries Of petroleum and S
larket valuation. S''e 'e''' 9
=. rntl otherwise provided bv the =
enerai Assembly by vote Of two-thirds a
[ the members elected to each housa all [
oeratlTs mines of sulphur. salt or other q
'herals' all oil or gas wells. all stone
NarrleS, sand, gravel and shell pits shall 5,
taXea nnon percentage Of the gross T.
re mine well, quarry or pit. This per y
lntage shall not exceed five per cent for c,
hFhur: three per cent for salt. two and e
le-ha'f per cent for oil and gas and n
70 per cent for rock and other minerals Is
S'r .haH OF grave, sand and shells. This u,
X shaIi not apply to the product of any "a
mes ouarries or pits or oil or gas walls u
here the owner other than public ser, m
ce corporations, uses the same for his I,
rsonat purposes and does not sell Tho tf
me or It's products or manufacture tha pt
me into another product for sale, 50
mere gravel, sand or shells are taken tT
om the beds Of public waters mr. fron, m
ores not subject to private nwner s,i,,' til
General Assembly may lew sn en,a; ST
Xes per cubic yard Of material talxen
[ and may levy different snecial TOW he
each OF said objects Of taxation, The Ju
'vernment Of the United States for anv &c
rposes: and contractors engaged IN the is
ns.rucuon OF any public work for the su
ate or for the United States solely for co
purpose Of such public work are s ~. tn
'rfzed to take free from, taxation vi
avei shell or sand from the beds az Ft
bic waters and the public shows ~ tn
State. Every c''~an Of tba c,.ta va
W naye n similar 'rht to take such Ie.
,.erials lor MS oV-" Nersonal use free ne
IN tsXauon; unless ''"v are taken for pa
e. All real and r." ~onal pronert,, 'o 20 su
owners of such m es, wells ono ,r,n ~. boz
pits, eScent machi-nrv. tools eva ine sci
n,ents absolutely essential to the on the
zion OF any mine. oil or Gas wa,1 ST.. Wh
irry: sand. gravel or shell pft ana Az vid
It the products themselves whi,s ~ are
hands nf the producer, shall he ~ pal
: assessed and taxed. oe 10 thi
o. All real and personal pronerty 20 nos
Ved tor local taxation shall be assessed fur
such percentage MT TO eycaad 1oo 80, be
t Of It's fair market value as ea ,oI FER the
governing authority NAV estabt;sh lev
= lower percentage nav he estah l
cd for personal than for real nronert,, is
Tor the values of improvements tbs ~ of
land values. IMAM era
!, IN al assessments Of real nronerty vel
etner TOT local or for State pnrnoses ma
va'ue or the land shall he assessed tax
'ts. rom the value Of the improve 81 Soe
ne u. ldlIrnad. pine line and cana, llat
easement. may he assessed s.n.r,t III litiC
n, or together with, the imnroyaroaat core
.eon as the Tax Commission nav tsh
n most practicable ''''oh may lev,
~, as,s,essments shall be arranged sao- pur
as far as possible etther So, So Of
,u, or upon separate records ana M sha
', aA assembly shall PASS laws NV taxi
'rS ior me printing and publica tjop NV ~ leas
, eoo,r.n, ,n ., the records, showing OF I
for ia apIIiraifv arranged assessments thNl
II price pa''ilailets at a trih
~ Tt very, taxpayer shall have tbo Will
!. ~ testing the correctness NJ HI. a ne Stat
'nent In the courts within s,,oh as ., as trict
ne Gnna"ai Assembly NAV nresor,t ae ton