The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1912-10-24

corporations not to exceed 2 cents a
share.
2. A tax on the organiza ton of do
nestle corporations. organized for profit
| excepting banks fraternal insurance
companies. and building and loan OF
homestead association not to exceed
ten dollars fat, plus not to exceed one
twentieth of one per cent of the author
lied capital stock and surplus, which tax
shall be levied upon increa ses of capital
stock as well as upon original issues
3. 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. fraternaI
and life insurance companies and build
ing and loan or homestead associations;
no such tax to be less than five dollars.
On foreign corporations this tax shaH
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 op capital and
surplus, life insurance companies. foreign
and domestic. not including fraternal in In,
surance associations. shall nay annually
a fiat fee of $4,000 plus s.. 80 on each
SO. Geo 90 Of premiums collected in Louis
lana during the preceding year.
4. The annual ad valorem tax on all
automobiles and taxicabs, and also on
transportation of persons or freight for
hire, with permission to the local govern
ment of the residence of the owner to
levy an annual license tax not to exceed
$500. One-half of the proceeds of this
State tax collected from each owner shall
go to the State good roads funds; the
remaining moiety Of such tax shall be
paid over by the State to the governing
authority of the locality from which the
machine is registered, to he devoted eX-
cusively by such governing authority to
the improvement of the public highways
within its jurisdiction.
5. A taxNon cotton future contracts,
in lien of all licenses to future brokers,
of not more than fifteen nor less than
each 100 bales. to be paid on each trans
action, one-half by the buyer and one
half by the seller.
6. A tax on grain, coffee. rice and
licenses to future brokers, of not more
than one and ene-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 the
respective exchanges shall be the basis
of the tax, to be paid. one-haK by the
buyer and one-half by the seller
Z. A true, progressive inheritance tax
for the benefit of the General Fund, and
If such tax is levied all beneflciaries shall
be divided into the following classes with
the following maximum exemptions for
each class:
First, ascendants. descendants. and
spouses. with an exemption of $4,000 each,
except as to the widow, when the eN-
empti0n shall be $4,000. and except as to
children under the ages OF -e sixteen, when men
widows marital fourth shall be exempt
Second. collateral relations of the sec
ond degree, including nephews and
nieces and their descendants when the
estate is divided by roots, with an ex-
emption of 81, 900 to each root, and daugh-
ters-in-law with an exemption OF $1,000
each.
Third, collateral relations of the third
degree. excluding nephews and nieces
and their representatives, with an eX-
Fourth. all other collateral relations
within the sixth degree inclusive, with
an exemption of $3.50 each.
Fifth, strangers and all collateral re-
lations beyond the sixth degree, with an
exemption of $10e each.
The maximum rate OF the progressive
tax shall not exceed eight per cent for the
first class, twelve per cent for the second
class, sixteen per cent for the third class,
twenty-five per cent for the fourth class
maximum rates to be attained when any
inheritance. legacy or donation exceeds
a half million dollars.
And the minimum rates of such tax
shall be one per cent for the first class.
two and one-half per cent for the second
class, three and three-feurths per cent
for the third class, seven per cent for the
fourth class. and thirteen per cent for
the fifth class. Whenever the rate of
assessment levied against any Inherit
ance. legacy, or other donation, when de-
Quoted from said inheritance, legacy
beneficiary a smaller net amount than
he would have received had the In
heritance, legacy or other donation fallen
into the next lower class in the CLASH
nal cash value. then the rate If taxation
shall be first calculated upon the maxi
mum amount in said next lower class,
and the remaining amount of the inherit
-, L.
taxed at the rate fixed for the higher
class into which the inheritance legacy,
or other donation falls.
Duplication of inheritance taxes as be-
tween this State and other States, for
eign and domestic shall be avoided by
the exemption of corpereal property be-
longing to a decedent of this State, and
situated outside of this State. to the ex-
tent of any inheritance tax Of such other
State; and by the exemption of incor-
poreal rights belonging to nonresident
decedents. such as shares of stock in
Louisiana corporations, notes, bonds, and
ors or bearing en- Louisiana property, to
the same extent.
This tax shall also be applied to all do
nations inter vivos, the donees to be d.
vided into the same classes hereinbefore
defined All donations inter vivos to the
same person within period of five years
shall be taxed as If together constitu-
ting a, single donation.
Legacies and donations inter vfvos to
religious or charitable insti-
tutiens, or to trustees for educational, re-
ligious or charitable purposes, shall be
exempt from this tax, unless such dona
of the disposable portion Of the tesla
tors or donors estate, in which case
the tax shall be imposed upsn the entire
legacy or donation and the legatees or
the third class.
General Assembly by a vote of thirds
Of all the members elected to each house
may from time to time prescribe.
Article w.
l. The General Assembly shall have
power to levy license taxes only on per-
sons, partnerships, associations and cor
tons that fall strictly under the domain
Of the police power, and for that purpose
to classify all such businesses and occu-
pations and to graduate the tax within
each class
2. Local subdivisions of the State gov
shall have the power to levy
licenses on businesses and occupations
falling strictly within the domain of the
police power as provided in the forego-
ng section for the State, save that such
ocal licenses as may be levied on traffic !
n malt, vinous and alcoholic liquors shall
not be less than those levied by the State |
nor less than those now or hereafter to
De prescribed by the General Assembly as |
local licenses.
3. Such local subdivisions as each may |
determine for itself shall also have the |
light to levy license taxes, classified and
graduated with due respect to equality |
md uniformity within each class, on all |
businesses and occupations not covered |
~ Section of this Article; save and ex- |
:ept licenses on corporations, persons. |
irms and associations whose property or |
business Is among the sources of revenue |
eserved to the State, and save and ex-
'ept licenses on individuals engag ed in |
r9dea c9llinRg involving
he personal labor or skill of the person |
o be taxed, and not falling within the |
domain of the police power: and save and |
Except corporations, associations, part
lerships or individuals engaged in manu-
or industrial pursuits whose
apital stock, or capital in business, is
ess than five thousand dollars, and not |
alling within the domain of the police