The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-10-11
rplu. and undivided profits less tho as

!" surplus and undivided prontS less tho al
= sessed value Of real estate locally as
Q sessed and taxed, and less such furthe
: deductions of not less than five per cen
T on their loans and discounts to cover ba
= debts and unearned interest as the Gen
g eral Assembly may prescribe, which de
e duction shall be made only from thei
r surplus and undivided profits; all take
n TO be paid by the banks and charged t
the stockholders.
e T. Individual bankers, banking firm
S and unincorporated banking associations
8 domciled in this State. shall be assessed
on the amount of capital. surplus an'
undivided profits actually employed II
their business less the assessed value Q
real estate locally assessed and taxed
> actually and exclusively used and en-
ploycd in their business, and less suct
further deductions not less than five pei
. cent on their loans and discounts e
cover bad debts and nnea rned interest 4:
The General Assembly may prescribe
which deduction shall be made only from
their surplus and undivided profits.
b. Foreign banks and individual bank
efS, banking firms and unincorpoTatcd
banking associations dOmiCiled out Of the
state but doing business In this STATE
small be assessed on such proportion OF
their capital, surplus and undivided
profits as is actually employed in this
State, less the assessed value Of real eS-
'<'tt 'ttdffS assessed ana taxed, actually
and exclusively used and employed in
their business in this State, and less
such further deductions. not less than
i've per cent on their loans and dis
| counts, to cover bad debts and unearu-
ed interest as the General Assembly
NAV prescribe, which deductions shall
he made only from their surplus and un-
divided profits
g.. Insurance, bonding and surety com
| panles and persons. firms and assoCia
| IONS engaged in the insurance, bonding
! and surety business. excluding however
! iraterna! insurance companies and asso-
! cations, shall be taxed on percentage
| or their gross premiums received upon
theiF business done In this State, less
return premiums and reinsurance in com
pahles or associations authorized to do
business IN this State. The percentage
aforesaid shall not exceed three per cent
for all branches OF insurance, bonding
ana surety business. except life and
industrial insurance and shall not ex-
coed two per cent for life and Industrial
insurance The special taxes to support
the ONCE OF fire marshal and fire pre-
Vention bureaus shall mot be deducted
from the premiums hereby authorized to
be taxed When by the laws of any other
STATE or country any taxes fines, pen
aities licenses. fees. deposits OF money
or or securities, or other obligations or
nfoh!bilons are Imposed on insurance.
bonding or surety cornpan MES of this state
uoing business In such other State or
country, or upon their agents therein in
excess OF SUCH taxes, penalties, fees II
tshSeS' deposits nf money, or of secllri- |
ties, or other obligations or prohibitions
imposed upon such insurance, bonding
or surety companies Of such other state
or country, so long as such laws continue
IN force the same obligations and prohi- /,
nlllons OF whatsoever kind may be I'M /,
posed ny the General Assembly OF thi. !
state unon insurance. bonding or surety |
companies of such other State or country /
doing business In this State
I, irrigation canals shall be taxed on ,
percentage not to exceed two per cent (
81 their gross receints. only such real es-
"a ana the buildings and structures
thereon, rights OF way, machinery, tools
ana implements as are necessary to the
operation OF any canal shall be Included
IN and covered by this tax on gross re-
celpts, All other real estate and personal
property Of the owner OF any canal shall
be locally assessed and taxed.
g. All sugar retineries rice mills. cot
.nn SEED oil mills, cotton seed oil re-
t>nerles and refinerieS Of petroleum mn
Is products shall be assessed on the fair
market valuation. .
9. Until otherwise provided bv the
'eneral Assembly by a vote Of two-thirds
VI the members elected to each house, all .
'perating mines OF sulphur. salt or other
minerals. all oil or gas wells. ali stone
luarries. sand. gravel and shell bits sbaI,
,e taxed upon percentage Of the gross :,
,,a'ae or the product at the mouth Of
ne mine, well. quarry or pit. This per :
entage shall not exceed Eve per cent for c
uiphur: three per cent for salt: two and |
ne half per cent for oil and gas. and !,
inclusive OF gravel. sand and shells. This o
Ak snail not apply to the product of any I.
'ihes, ouarries or pits or oil or gas walls I
mere the owner, other than public SER =
ice corporations, uses the same for his ',
ersonal PURPOSES and does not sell the }.
: me or ,r us prnhucts or manufacture the :.
atne into another product for sale, -
Where gravel, sand or shells are taken Z
'om the beds Of public waters or from n,
nores not subject to private ownership q
re General Assembly may levy snariai 3
lxes ner cubic yard of material taken J.,
~ ana may levy different speciaI tqy "
" each OF said objects Of Taxation. The j
orernment OF the United states for any g
irposes. and contractors engaged IN The u
Of any public work for tha ~
tate or for the United States solely for q
,e nurpose Of srrh public work are au. u
lorlzed to take free from taxation v
, ,a,v' smell or sand from the beds of =,
e State. Every citizen Of the stat. v;
lall have a similar right 10 take snch le
atsrials for his or," nersonal re. fros M
ON taxation, unless ''rey are take, for pa
lie. All real and anal nropertv ~ a.
= owners OF such r. 's, wells, ouarries DO
"a pits, eXcent mach' wy. tools and I'M sc
enents absolutely e~-"ntiai to the on. m
alton or any mine oi nv gas wal, s,on. "
AIRY. sand gravel she'll Mt ana er. vi
ut the products themselves while IN az
g hands of the producer. shall he In. na
" assessed and taxed. i'' 'o ''- th
10. All real and personal pronert, Va no
rived for local taxation shall he assessed III
suct percentage NOT 10 exceed ZOO rer ne ne
nj OF its fair market value as each 10. IN
!, governing authority may establish, re,
q lower percentage NAV he estab-
he'd for personal than for real pronertv Is
for the values Of improvements than OF
: land values. IMAM er
II; In All assessments ~ real pronertv we
lether for local or for state purnosee ma
Va'ue or the land shall he assessed "a
'arateiv from the value Of the Improve So
us nnt railroad pine line and canal ,la
'hts or way, whether held in fee nv ,,n no
r easement NAV no .ssasSn5 zee OF un lit
I'M, or together with, the Improvement. COZ
areon as the Tax Commission NAV ISL
am most practicable may lev
T.. Assessments shall be arranged sa, pn
'phlcaily as far as possible either inv OF
ro', or uoon separate records ana, tha sh'
nerai Assembly shall PASS laws mo ta'
lnp Tor the printing and publication &, Iea
n .eeosraphcallv arranged asse ssnwIns thr
for the sale Of such pamphlet. ~
All price. Dhpfhe's at a trt1
4. EVERY taxnayer shall have ~. wi
nc OF testing the correctness OF hi. as Sta
s,nent IN the courts within such time tri'
'ne G"nHral Assembly nav nraacriha' Ito
!, no nronerty shah he assessed for eaf