The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-09-06

surplus and undivided profits less the az
sessed value of real estate locally as
sessed and taxed, and less such turtle
deductions of not less than five per cen
on their loans and discounts to cover ba
debts and unearned interest as the Gen
eral Assembly may prescribe, which de
duction shall be made only from thel
surplus and undivided profits, all take
to be paid by the banks and charged t
the stockholders
4. Individual bankers, banking firm
and unincorporated banking associations
| domicied in this State, shall be assessed
on the amount of capital, surplus ant
undivided profits actually employed il
| their business, less the assessed value o
real estate locally assessed and taxed
| aCtuaNy and exclusively used and en-
| poyed in their business and less Suct
| further deductions not less than five pei
! cent on their loans and discounts tc
cover bad debts and uneamed interest as
| the General Assembly may prescribe
which deduction shall be made only from
their surplus and undivided profits.
.. Foreign banks and individual bank
ers, banking firms and untucorporate(i
banking associations. dOmiCiled out of the
state but doing business in this State.
shall be assessed on such proportion Of
iheir capital surplus and undivided
profits as is actually employed in this
state less the assessed value Of real eS-
tate locally assessed and 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. 10 cover had debts and unearn-
ed interest as the General Assembly
may prescribe. which deductions shall
be made only from their surplus and I'M
divided profits
o. Insurance, bonding and surety com
panies, and persons. firms and assOCia-
IONS engaged in the insurance, bonding
ana surety business. excluding however.
traternal insurance companies and assO-
cations, shall he taxed on q percentage
OF their gross premiums received upon
their business done in this State less
return premiums and reinsurance in com
panleS or associations authorized to do
business in this State. The percentage
tlofeSalu snail not exceed three per cent
lor ali branches of insurance, bonding
and surety business, except life and
industrial insurance and shall not eX-
'eed two per cent for life and industrial
insurance. The special taxes to support
ne office Of fire marshal and fire pre-
,ehtion bureaus Shall not be deducted
rom the premiums hereby authorized to
!e taxed When by the laws Of any other
stat" or country any taxes. fines pen
" or securities, or other obligations or
prohibitions are imposed on insurance
londlhg or surety companies of this state
long business in such other State or
ouhtrN. or (DOn their agents therein in
NceSS OF such taxes. penalties, fees. Ii .
enSeS' deposits of money. or of securi-
les or other obligations or prohibitions 7.
imposed upon such Insurance. bonding
! surety COMPANIES of such other State
J country, SO long as such laws continue
, force the same obligations and rrobi-
luonS OF whatsoever kind NAV be i'm
oSed by the General Assembly of This
ldle upon insurance. bonding or surety
oiilpanieS or such other State or country
0lng business in this State
l. irrigation canals shall be taynd m
percentage not to exceed two pcr cent
their gross receipts. only such real es
We ana the buildings and structures
lereon. rights of way, machinery. fools
'd implements as are necessary to the
'eratlon of any canal shall be included
ana covered by this tax on gross re-
,lpls. All other real estate and personal
, " , OF the owner of any canal shall
> locally assessed and taxed.
&. All sugar refineries. rice mills cot
N seed oil mills. cotton seed oil re- :
HerleS ana refIneriss of petroleum and :
products shall be assessed on the fair
arket valuation, s
y. Until otherwise provided nv the !
shefat Assembly by a vote of two-thirds q
tlle meInhers elected to each house. all 4.
,eratinS mines of sulphur. salt or other |
inerals. all oil or gas wells, ali stone
'arrles; sand. gravel and she'll pits shall 5
taxed upon percentage of the gross |
Ilue OF the product at the mouth of v
t NINE We'll quarry or pit. This per-
mage shaH not exceed five per cent for c
.pI H,aIt .nree per cent for salt two and =
e. half per cent for oil and gas, and =
% per cent for rock and other minerals Is
elusive Of gravel, sand and shells This o
snail not apply to the product of any =,
mes nuarrles or pits or OIL or gas wells q
lere the owner, other than public sar, n
ce corporations, uses the same for bic q
rsonal purposes and does not sell tho u
me or It's products or manufacture the p
me INTO another product for sale, :,
mere gravel sand or shells are taken u
nm the beds of public waters mr. from m
ores not subject IN private ownership II
General Assembly NAV lew sneciaI 81
ies per cubic yard of material tal,en
and may levy different speciaI tsY ~
eacn OF said objects of taxation. The lu
Vernment OF the United States for any e
poses, and contractors engaged in The is
~ uc'ioh OF any public work for the ~
purpose of such public work are al. tn
'rlzed to take free from taxation VI
vel. she'll or sand from The haSs o 80 FL
ohc waters and the public shores NJ IN
:, State. Every citizen of the state va
IL nave similar right to take such Ies
-, ~ rs tais uoF MS own personal use free ne
m taxation, unless they are taken for pa
e. All real and personal nronarty io ~ su
owners of such mines, wells nuarr;os bo
plts. eXcent machinery tools and i'm SCI
nents absolutely essential to tha on tn
uon OF any mine. oil or gas well s+opo WI
rrE; sand. gravel or shell pit. and eY1 vic
[ .the products themselves while in arr
n naIlus W tne producer, shall be To- "a
J. All real and personal nroner+,, 40 no:
,ed Tor local taxation shall be assessed ful
.ucn percentage not to exceed 100 nor he
OF It's talr market value as eacb 10. the
governing authority may establish lev
lower percentage may be estah- l
ed lot personal than for real pronertv Is
land values IMAM gra
IN AL assessments Of real pronertv we
thef for local or for State nnrnosos ma
value of the land shall be assassaG tax
'rately from the value of the irnnroTe" spe
It's; but railroad nina live .t1 I'VE lial
Is Is OF way, whether held in fee or M pos
1e'nsi,,ent, may he assessed separateIv hel
l. or together with, the improvemants cor
con as the Tax Commission n3nS ish
n most practicable. may lev,
:, Assessments shall be arranged geo. pnur
, nn1, as lar as possible either mon OF
rol, or upon separate records and +ba sha
aral Assembly shall pass 10 .f m.iu me tax
lF for the printing and nuhIfon -, pro leas
phlet form of the records, shnmir ", If
geographically arranged assessments tho
= tor the sale of such Pamphlets AZ . J.!
Every taxpayer shall have -, wit
of testing the correctness nf It, me Sta
nent in the courts within snoh ,,is us as trio