The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-08-31
que in each locality where such real
estate is located,

4th All insurance companies in
GLIDING bonding and surety companies,
foreign or domestic, and all persons
and partnerships engaged in insur-
ing persons or property, save that
all the real estate and corporeal
property of such companies, persons
or partnerships shall be locally as
sessed and taxed.
5th. All sugar refineries, rice mills.
cotton seed oil mills, cotton seed Oil
refineries and refineries of petroleum
and it's products. A sugar refinery
is hereby defined to be a concern
that buys and refines raw sugar ex-
clusively, or a concern that buys and
refines more raw sugar than the az
gregate of the sugar produced by it
from cane grown and purchased by
it.
9Th. ALI mines of sulphur, salt or
other minerals, all oil or gas wells.
all stone quarries, sand, gravel and
shell pits.
3. Only the operative property Of
state sources of revenue shall be
segregated to the State. The Gener.
al Assembly shall define, in a man.
ner not inconsistent with any pro-
visions of this amendment what the
operative property of each such
source is. Real estate and the i'm
" provements thereon forming part OF
any railroad terminal, depot or yard
or warehouse or shop, acquired after
July l, 1912, even though it may form
part of the operative property OF any
/ railroad, shall not be considered a
J. source of state revenue except by
# constitutional amendment unless
such property had been, prior to said
date, part of a railroad terminal. de-
pot, yard, warehouse or shop.
# 4. All other property subject to
l. taxation, except as herein specified,
p. or except as may hereafter be direct
:. ed by vote of two-thirds Of all the
II members elected to each house Of the
VI General Assembly, shall be sources
y of local taxation.
40 Article III.
-, The General Assembly shall have
Il power to levy for State purposes the
s. following special taxes:
e /. A tax on the transfer of stocks
9 in corporations not to exceed cents
share.
2. A tax on the organization Of
domestic corporations, organized for
r profit, excepting banks, fraternal in"
b. surance companies, and building and
loan or homestead associations, not
to exceed ten dollars flat, plus not
De to exceed One-tWentieth of one per
H. cent of the authorized capital stock
70 and surplus, which tax shall be lev
led upon increases of capital stock
10 as we'll as upon original issues.
SD 8. A tax on private corporations,
OF organized for profit, for the privilege
of of exercising corporate functions, not
b. to exceed one.twentieth of one per
or cent per annum on the outstanding
is capital stock and surplus, excluding
Mt banks, fraternal and life insurance
a companies and building and loan or
OF homestead associations; no such tax
r. to be less than five dollars. On for
'e- eign corporations this tax shall be
is levied on such proportions of their
n capital stock and surplus as Is used
NJ in this State in intra7state business.
he In lieu of the franchise tax on CAPT.
n tai and surplus, life insurance com
.e, lpanies, foreign and domestic, not in
all Guiding fraternal insurance assOcia-
,lf tions, shall pay annually flat fee OF
or $4,000 plus $3.50 on each 100000
OIL of premiums collected in Louisiana
ct during the preceding year.
"a 4. An annual ad valorem tax ON
all automobiles and taxicabs, and al
We so on all other auto-driven vehicles
* used for transportation of persons or
es freight for hire, with permission to
ut the local government OF the resi-
al dence of the owner to levy an annual
he License tax not to exceed $500. One
ial half of the proceeds of this State
he tax collected from each owner shall
be go to the State good roads funds;
he the remaining moiety of such tax
w. shall be, paid over by the State to
the governing authority of the local.
"a ty from which the machine is regis
en- tered, to be devoted exclusively by
er such governing authority to the i'm
ak provement Of the public highways
he within its jurisdiction.
ed 5. A tax on cotton future con-
Mt tracts, in lieu Of all licenses to fu'
all lure brokers, Of not more than fiji
Sc teen nor less than ten cents on
each purchase and sale of each LOG
DaIeS, TO De palQ On each transac'
,al ton, one-half by the buyer and one
ex- half by the seller
as 6. A tax on grain, coffee, rice
a and sugar future contracts, in lieu Of
,rs all licenses to future brokers. of moi
err. more than one and one-half per cent
ity nor less than one per cent on the
its commissions paid on each transac
lin ton. Each unit contract as estab
lshed by the rules of the respective
a exchanges shall be the basis of thu
m tax, to be paid, one-half by the buy
he err and one-half by the seller.
ing Z. A true, progressive inheritance
We. tax for the benefit of the Genera
Fund. and if such tax is levied al
ter beneficiaries shall be divided int
the following maximum exemption
er- for each class:
,ns First, ascendants, descendants, ant
un- spouses, with an exemption of $1,000
,ad each, except as to the widow, whei
all the exemption shall be $4,000. and ex
md cept as to children under the age o
IS; sixteen, when the exemption shall b.
not $500 each. The widows MARTA