The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-05

Draft. where operated. for hire, canal Tor
or irrigation and pipe line
and power business conducted in con-
Junction with any street railroad can be
practically severed from the street rail-
road business for purposes Of assessment
then such severance shall be made by.
the Tax Commission and such electric
light and power business shall not be
source Of State revenue.
3rd. All banks, State and National,
savings banks, trust banks and
trust companies, and all private bankers,
whether individuals or partnerships, save
that the real estate of all banks and
bankers shall be locally assessed and
estate of banks and bankers shall be
equalized annually by the Tax Commits
sion to the basis established and in vogue
In each locality where such real estate
4th All Insurance companies includ-
ing bonding and surety companies, for
eign or domestic, and all persons and
partnerships engaged in insuring persons
and corporeal property Of such companies,
persons or partnerships shall be locally
assessed and taxed.
5th. All sugar renneries, rice mills,
cotton seed oil mills, cotton seed oil re-
fneries and refineries of petroleum and
its products. A sugar refinery is hereby
defined to be concern that buys and re-
fines raW sugar exclusively, or a concern
than the aggregate Of the sugar produced
by it from cane grown and purchased BY
9th. All mines of sulphur, salt or other
all oil or gas wells, all stone
quarries, sand, gravel and shell pits
5. Only the operative property of State
sources of revenue shall be segregated to
the State. The General Assembly shall
any provisions Of this amendment, what
the operative property of each such
source Is Real estate and the improve
nents thereon forming part Of any rail-
house or shop, acquired after July I.
1872 even though 1t may form part OF
the operative property OF any railroad.
shall not be considered source of State
ment, unless such property had been,
prior to said date. part of railroad ter
mina1, depot yard, warehouse or shop.
4. All otter property subject to taxa
as may hereafter be directed by 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 have power
to levy for State purposes the following
special taxes:
/. tax on the transfer Of stocks In
corpora tons not to exceed cents
share.
O. A tax on the organization Of do
nestle corporations, organized for profit,
excepting banks, fraternal insurance
homestead association, not to exceed
ten dollars fiat, plus not to exceed ones
twentieth of one per cent Of the author.
lied capital stock and surplus, which tag
shall be levied upon Increases Of capital
stock as well as upon original issues.
3D. A tax on private corporations, Or
gained for profit, for the privilege Of ex-
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 buiid-
ing and loan or homestead associations;
no such tax to be less than five dollars
On foreign corporations this tax shall
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 and
surplus, life insurance companies, foreign
and domestic, not including fraternal In
surance associations, shall pay annually
a fiat fee OF $4,000 plus 81. 50 on each
100000 of premiums collected IN Louis
A. The annual ad va1orem tax on all
automobiles and taxfcabs, and also on
all other allto-d driven vehicles used for
transportation Of persons or freight for
hire, with permission to the local govern
ment OF the residence ef the owner 20
levy an annuaI llcense TAX not TO exceed
ST. 90 One half he proceeda of tilis
State tax collected from each owner shall
go to the State good roads funds the
remaining noiety OF such tax shall be
paid over by the State to the governing
authority OF the locality from which the
machine is registered, to be devoted ex-
clustveIy by such governing authority "a
the Improvement Of the public highways
within its jurisdiction.
s.. A tax on cotton future contracts,
| in lieu Of all licenses to future brokers
| Of not more than fifteen nor less thar
| ten cents on each purchase and sale Of
each 100 bales, to be paid on each trans
action, one-haf by the buyer and one.
half by the seller
s. A tax on grain, coffee, rice and
sugar future contracts, IN lien OF al
licenses to future brokers, OF not more
than one and one 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 tbs
respective exchanges shall be the basil
of the tax, tosbe paid, one half by thu
buyer and one-ha1f by the seller:
/ 4. A true, progressive inheritance to,
/ for the benefit Of the General Fund, and
Iif such tax is levied all benehciartes shall
be divided into the following classes will
the following maximum exemptions foi
First, ascendants, descendants. ant
/ spouses with an exemption OF $4,000 each
except as to the widow, when the ex
en1ption shall be $1,000. and except as +
. the exemption shall be $500 each. Til.
Widows marital fourth shall be exempt
/ Second, collateral relations Of the SEQ
i ord degree, including nephews ant
nieces and their descendants when TIL
estate is divided by roots, with an ex
ernption of $1,000 to each root. and ,daugh
1 ters-in law with an exemption OF $500
each.
4 Third, collateral relations Of the thir'
j degree. excluding nephews and niece
and their representatives, with an en-
emption of $500 each =
i Fourth all other collateral relation
a within the sixth degree inclusive, Wit
an exemption Of $3.50 each.
i Fifth, strangers and all collateral re
+ latfons beyond the sixth degree, with a.
! exemption of 500 each.
4 The maximum rate of the progresstv
u tax shall not exceed eight per cent for tn
s first class twelve per cent for the secon
!. class, sixteen per cent for the third class
Il twenty-five per cent for the fourth class
!, and thirty per cent for the hfth class
maximum rates to be attained when an
[ inheritance, legacy, or donation exceed
a half million dollars.
And the minimum rates Of such Ia
shall be one per cent for the FIRST clasf
d two and one-half per cent for the secon
class. three and three ourths per cen
/ for the third class, seven per cent for tn
: fourth class, and thirteen per cent fo
the fifth class. Whenever the rate 9