The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-31
and undivided nrOfits.

surplus and undivided profits.
S. Insurance, bonding and surety
companies, and persons, firms and as
sociatiMss engaged in the insurance,
bonding ..A4 sEsety business, exclud'
ing, however, fraternal insurance COM
panies and associations, shall be tax
ed on a 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 90
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
er state or country any taxes, 1lnes,
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
iii 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 prohlDltlOns
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 be 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.
Z. 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.
9. Until otherwise provided by the
General Assembly by vote of two
thirds of the members elected to
each house, all operating mines o.
sulphur, salt or other minerals, all OF
or gas wells, all stone quarries, sand
gravel and shell pits shall be taxed
upon a percentage of the gross value
of the product at the mouth CT the
mine, we'll, quarry or pit. This per
centage shall not exceed five pei
cent for sulphur; three per cent fol
salt; two and one-half per cent fol
oil and gas, and two per cent fol
rock and other minerals, inclusive OF
gravel, sand and shells. This tai
shall not apply to the product OF any
mines, quarries or pits or oil or gas
wells, where the owner, other thar
public service corporations, uses the
same for his personal purposes and
does not sell the same or its pro
ducts or manufacture the same into
another product for sale. Where gray
Ell, sand or shells are taken from the
beds OF public waters, orfrom shores
not subject to private ownership, thu
General Assembly may levy specia
taxes per cubic yard of material tax
en- out and may levy different spec
ial tax for each of said objects o.
taxation. The Government Of the
United States for any purposes, ant
contractors engaged in the construc
ton of any public work for the State
or for the United States solely fo1
the purposes of such public work arr
. authorized to take free from taxation
gravel, shell or sand from the bed
Of public waters and the public shores
of the State. Every citizen of thu
State shall have a similar right tt
take such materials for his. own per
sonal use free from taxation, unles|
they are taken for sale. All rea
and personal property of the owner
! Of such mines, wells, quarries and pit
except machinery, tools and nipple
, ments absolutely essential to the op
, Grafton of any mine, oil or gas well
stone quarry, sand, gravel or shel
pit, and except the products them
selves while in the hands Of the pre-
D Queer, shall be locally assessed an
r taxed.
I 10. All real and personal propert
reserved for local taxation shall b
assessed at such percentage not t
: exceed 100 per cent of it's fair NAL
s ket value as each local governin
authority may establish, and a lowe
d percentage may be established 70
i personal than for real property Q
/. for the values of improvements tina
+ for land values.
r II. In all assessments of real prof.
d erty whether for local or for Stat
e purposes, the value of the land sha
,, be assessed separately from the val,
y of the improvements; but railroad
J. pipe line and canal rights of wa,
e whether held in fee or under cas-
/ ment, may be assessed separated
from, or together with, the improve
IS ments thereon as the Tax Commissic
NOV dom, most nracticah1o