The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-11-02


ferry, barge, and tug, or other WateS
craft, where operated for hire, canal fos
transportation or irrigation, and pipe line
for oil or gas When the electric light
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 Q
source of State revenue.
/ 3rd: All banks, State and National
including savings banks. trust banks and
trust companies, and all private bankers,
whether individuals or partnerships, save
that the real estate of all banks and
taxed. The assessments of the real
estate of banks and bankers shall be
equalfzed annually by the Tax Commits
sion to the basis established and in vogue
in each locality where such real estate
I is located.
4th. All insurance companies includ-
Ing bonding and surety companies. for
eign or domestic, and all persons and
or property, save that all the real estate
and corporeal property of such companies,
persons or partnerships shall be locally
assessed and taxed.
cotton seed OIL mills, cotton seed oil re-
fineries and refnerfes OF petroleum and
It's products. A sugar refinery is hereby
defined to be a concern that buys and re-
that buys and refnes more raw sugar
than the aggregate of the sugar produced
by It from cane grown and purchased By
9Th All mines Of sulphur, salt or other
minerals, all oil or gas wells, an stone
quarrtes, 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
Edef1ne, IN a manner not inconsistent with
any provisions of THIS amendment, what
the operative =, property sIss Of eaer, such
n1ents thereon forming part Of any rail-
road terminal, depot or yard or ware
house or shop, acquired after July i.
the operative property OF any railroad.
shall not be considered a source OF State
revenue except by constitutional amend
ment, unless such property had been,
nfnaI, depot yard, warehouse or shop.
| 4. All other property subject to taxa
ton, EXCEPT as herein specffled, or except
as may hereafter be directed by a vote
Of two-thirds Of all the members elected
to each house of the General Assembly.
| shall be sources Of local taxation
Article ILL.,
| The General Assembly shall have power
to levy for State purposes the following
special taxes:
corpora tons not to exceed 2 cents Q
share.
| 2. A tax on the organization of do-
nestle corporations, organized for profit,
excepting banks, fraternal insurance
companies, and building and loan Q!
| ten dollars fat plus not to exceed one
twentieth of one per cent Of the author
1 lied capital stock and surplus, which ta4
| shall be levied upon increases of capital
stock as well as upon original issues.
8. A tax on private corporations, Or
ganized 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, fraternal
and life insurance companies and build
ing and loan or homestead associa tons;
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 So. SO on each
$4,000. 90 Of premiums collected in Louis
| lana during the preceding year.
4. The annual ad valorem tax on an
automobiles and taxicabs. and also ON
4 all other auto-driven vehicles used Tor
transportation Of persons or freight for
/ hire, with permission to the local govern
n1ent Of the &c aanoe at the oWner to
1870 One-haIf sof the proceeds of this
State tax collected from each owner shall
go to the State good roads funds; tbs
remaining noiety OF such tax shall BIS
paid over by the State to the governing
authority Of the locality from which the
machine is registered, to be devoted exc
clusively by such governing authority to
the Improvement of the public highways
within it's jurisdiction.
5. tax on cotton future contracts,
In lieu of all licenses to future brokers.
OF not more than fifteen nor less than
ten cents ut % each 6, purchase and sale @
action, one-half by the buyer and one
| half by the seller.
6. A tax on grain. coffee, rice and
/ sugar future contracts, In lieu OF all
licenses to future brokers. Of not mora
/ than one and one-half per cent nor less
\ than one per cent on the commissions
paid on each transaction. Each unit con-
respective exchanges shall be the basis
of the tax, to be paid one-half by the
buyer and one-half by the seller.
Z. A true. progressive Inheritance tag
i for the benefitIof the General Fund, and
i If such tax Is levied all beneficiaries shaM
4 be divided into the following classes with
4 the following maximum exemptions Eos
/ each class:
First, ascendants, descendants, and
spouses, with an exemption Of $4,000 each,
except as to the widow, when the ex-
emption shall be 5000, and except as To
i the e exemption shall Be $500 each The
Widows marital fourth shall be exempt.
Second, collateral relations Of the SEQ.
ond degree, Including nephews and
\, nieces and their descendants when tha
estate is divided by roots, with an ex-
emption OF 81 900 TO each root. and daugh-
ters-in-1aw with an exemption Of 81. Coz
4 each.
Third collateral relations Of the third
i degree, excluding nephews and niecef
and their representatives, with an en-
emption Of $500 each.
/ Fourth. all other collateral relations
within the sixth degree inclusive, with
an exemption of $3.50 each
Fifth, strangers and all collateral re,
l1ations beyond the sixth degree, with en-
exemption Of 500 each.
The maximum rate OF the progressive
tax shall not exceed eight per cent for the
first class, twelve per cent for the second
4 class, sixteen per cent for the third class
TWENTY-FIVE per cent for the fourth class
j and thirty per cent for the fifth class
4 maximum rates to be attained when ans
I Inheritance. legacy. or donation exceeds
LA half million dollars.
j And the minimum rates Of such Tar
shall be one per cent for the first class
4 two and one half per cent for the secona
II class, three and three-fourths per cent
for the third class, seven per cent for ths
4 fourth class, and thirteen per cent fos