The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-08-29
urplus and undivided profits.

g. Insurance, bonding and suret.
companies, and persons, firms and as
sOciations engaged in the insurance
bonding and surety business, exclud
ing, however, fraternal insurance com
panies and associations, shall be tax
ed on percentage of their gross
premiums received upon their bus
mess done in this State, less return
premiums and reinsurance in cOmpa'
MES or associations authorized to do
business in this State. The percent
age aforesaid shall not exceed three
per cent for all branches of insur-
ance, bonding and surety business,
except life and industrial insurance
and shall not exceed two per cent
for life and industrial insurance. The
special taxes to support the office OF
fire marshal and fire prevention bu'
reaus shall not be deducted from the
premiums hereby authorized to be
taxed. When by the laws of any 9TH
err state or country any taxes, fines,
penalties, licenses, fees, deposits OF
money or of securities, or other obi
cations or prohibitions are imposed
on insurance, bonding or surety COM
panies of this State doing business
i'll such other state or country, or up
on their agents therein in excess of
such taxes, penalties, fees, licenses,
deposits of money, or of securities,
or other obligations or prohibitions
imposed upon such insurance, bond
ing or surety companies of such 9th
er State or country, so long as such
laws continue in force the same OBJ
legations and prohibitions of whatso-
ever kind may he imposed by the
General Assembly of this State upon
insurance; bonding or surety compa-
MES of such other state or country
doing business in this State.
T. Irrigation canals shall be taxed
on percentage not to exceed two
per cent of their gross receipts, only
such real estate and the buildings
and structures thereon, rights of way,
machinery, tools and implements as
are necessary to the operation of
any canal shall be included in and
covered by this tax on gross receipts.
All other real estate and personal
property of the owner of any canal
shall be locally assessed and taxed.
8. ALI sugar refineries. rice mills,
cotton seed oil mills. cotton seed oil
refineries and refineries of petroleum
and it's products shall be assessed on
the fair market valuation.
8. Until otherwise provided by the
General Assembly by vote of two
thirds of the members elected to
each house, all operating mines of
salt or other minerals, all oil
Dr. gas wells, all stone quarries, sand,
gravel and shell pits shall be taxed
upon a percentage of the gross value
If the product at the mouth of the
nine, we'll. quarry or pit. This per.
,entage shall not exceed five per
,ent for sulphur; three per cent for
'alt; two and One.half per cent for
Ill and gas. and two per cent for
ock and other minerals, inclusive of
,ravel, sand and shells. This tax
hall not apply to the product of any
mines, quarries or pits or oil or gas
wells, where the owner. other than
ublic service corporations, uses the
anne for his personal purposes and
oes not sell the same or it's pro-
ucts or manufacture the same into
mother product for sale. Where gray
!, sand or shells are taken from the
eds of public waters, Orfrom shores
OF subject to private ownership, the
Ieneral Assembly may levy special
axes per cubic yard of material tax.
n out and may levy different spec.
Il tax for each of said objects of
axation. The Government of the I
'nited States for any purposes, and i
ontractOrs engaged in the construc-
on of any public work for the State .
r for the United States solely for
le purposes Of such public work are
uthOrized to take free from taxation
ravel, shell or sand from the beds I
public waters and the public shores
the State. Every citizen of the
tate shall have a similar right to
Ike such materials for his own per.
onal use free from taxation, unless
ley are taken for sale. All real :,
i'd personal property of the owners "
such mines, wells, quarries and pits q
tcept machinery, tools and nipple. L
ents absolutely essential to the op. Il
alton of any mine, oil or gas we'll, :.
one quarry, sand. gravel or shell 8
I, and except the products them. o
Ives while in the hands of the pro- 8
,cer, shall be locally assessed and h
xed. IL
10. All real and personal property =:
served for local taxation shall be Il
sessed at such percentage not to
coed 100 per cent Of it's fair mar D
It value as each local governing h
thority may establish, and a lower =,
rcentage may be established for y
rsonal than for real property or b.
r the values of improvements than
: land values. .,
II. In all assessments of real prop W
y whether for local or for State y.
rposes, the value Of the land shall ~ =
assessed separately from the value 81
the improvements; but railroad, 81
'e line and canal rights of way, e.
lether held in fee or under ease
mt, may be assessed separately
I'M, or together with. the improve. m
'nts thereon as the Tax Commission be