St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-11-02

or except as may hereafter be direct
cd by q 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 nave
power to levy for State purposes the
following special taxes: o,..
4 A tag on the transfer OF STOCKS
IN corporations not to exceed Genus
. share. ,u.+;or of
domestic corporations, organ1zeu ~
nrofit. excepting banks, fraterhai ~
surance companies, and bulldlns any.
io.n rr homestead association ~.
~ exceed ten dollars fiat. plus Nv.
- evceed one-twentieth OF one pc.
csct If the authorized capital stocn
ga .vrnlus which tax shall be leVlea
MON increases of capital stoch do
Cell "A upon original issues. :
A tax ON private corpora'ioua'
ors.n,xed for profit, for the prlvi lUas
~ exercising corporate funct'ons,
~ tn exceed one-twentieth OF one
, .. cont per annum on the outs'anu
ing capital stock ana sul SUR ';fe in
Guiding banks, fraternal any and
aurance companies ana pui .;ans no
loan or homestead assocla.ioan ai,ors
.nch tax to be less than h'e uo tax
On foreign corporations ms ;ons
.hall be levied on such pfop ~',s &c
of their capital stock ana suIp1a a..te
a used in this State III M, nue. tax
hnsiness. In lieu of the francn'se .. .aN
IN canital and surplus, HE lnsnt
snce companies, foreign ana uoln ,oo
tic not including fraternai ln MS Ar nat
ssssociat,ons. shall pay annually 10,
ss. az $4,000 plus $2.5o on e"i ~
eTn t1o, 40 of premiums collecteu ~,
fa.,;:;ena during the preceo'ne
year. .,orem tax on
~ .u+omobiles and taxicabs, anu a..
"a IN An other auto-lrivel. vehl. ans
=" .,..S far tran portation OF p; ;as;nn
o- Sreieht TOR hire, with perm's rae;.
~ ths local government OF Tue ro
!. ~ the owner to levy an an nua
;,e.rsa tar not to exceed SOW S ~
hs,e ~ .ha proceeds OF TINS ST. o,,a1
~. n.A .oliected from each owner sn as
70 to the state good roau such ia,
the remaining moiety -. State t.
shall be paid over by tne 80 a 1ocali
The governing authority OIL nc g ree;s
- from which the machlhe .;noiv h,
tsred to be devoted exclusi. ~ I'M
snch governing authority " ,ahwav.
r-ovament of the puohc n'e
vithin it's jurisdiction. contract,
"'A tsr On cotton future cohtraGs'
.. = ;,.n n ali licenses to future oi ,os,
IA "e 80 not more than fifteen nor .es s
~ ~, Ton cents on each purchase on
e en.A ~ each 100 bales. to De p a..
.sch transaction, one-naH Wy '"'
S.vs- and one-hah by the seller. r;c,
ous tar On grain. conee: r., ~ ~
"a .u~sr future contracts, IN ileu y
~ 1 ,;"sn.ee to future brokers, u w
gu .s INN one and one-half per cen
LIZ mv. ,s.. than one per cent on ~.
a aHn paid on each transas a ~
1 W"an init contract as estabhsneo ~
- -,,1e. of the respective excnanee
shsr no the basis Of the TAX 70 y
D410, O00-AoAA ~
half by the seller. u,,. ,nher]
800. tar for the benefit OF the uen
eral Fund, and If such ta s,,, - IN
iii bepenciaries shall De u,sl W. FL
to the following classes VIII ~. r.
lowing maximum eAenp''o
each class: .o.cordants
. First-ascendants, descenua ns e
and spouses, with an e1emp.l9,dd
$4,000 each. except as to the w lno|
vhen the exemption shall be $oo ~
ana except as to children under ~
s~e az sixteen. when the exemptlu
ehsn be $500 each. The woo"
marital fourth shall be exempt.
SECOND Collateral relations
the second degree, including nepnew
ana nieces and their descenoen'
vhen the estate is divided oy rooe'
nth an exemption of $1,000 to eac
root and daughters-in-law with q
exemption of $1,000 each. -,
Third-Collateral relations OF "
third degree, excluding nephews an
nieces and their representative
with an exemption of $500 each.
Fourth-All other collateral re
lations within the sixth degree II
elusive, with an exemption OF >z.o
EACH.
Tifth-Strangers and all collate1
=, relations beyond the sixth degre'
WITH an exemption of 500 each.
The maximum rate of the progre'
eive tax shall not exceed elgnt pe
cent for the first class, Twelve pc
cent for the second class, sixteen pe
cent for the third class, twenty nv
per cent for the fourth Glass; an
thirty per cent for the nth clas'
maximum rates to be attained VINE
any inheritance, legacy, or dona1lo
exceeds q half million dollars:
And the minimum rates OF sue
tag ahall be one per cent for the mrs
class. two and one-half per cent &c
the second class, three and tnret
fourths per cent for the third GAS
saven per cent for the fourth cias
ana thirteen per cent for the MT
class. Whenever the rate OF assess
ment levied against any nheritahc'
leracv or other donation, when az
. Quoted from said inheritance, leg
acv. or other donation woul
leave the beneficiary smaile
nat amount than he would have II
ceived had the, inheritance. legac!
ar other donation fallen INFO tn
NEXT lower class in the classihcatlo
according to amount OF actual Cos
value, then the rate OF taxation sha
he first calculated upon the max
mum amount in said next lower cas-
and the remaining amount OF the ~
heritance, legacy, or other donatlo
shsll be taxed at the rate nxeo ~
the higher class into which ire II