The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1912-08-31

buyer and one half by the seller.
Z. true, progressive Inheritance tax
for the benefit of the General Fund. and
If such tax Is levied all heneticiaries shall
he divided into the following classes with
the following maximum exemptions for
each class.
First ascendants, descendants, and
spouses, with an exemption of $1,000 each,
except as to the widow. when the ex-
emption shall be $4,000, and except as to
children under the ages of sixteen, when
the exemption shall he $4,000 each, the
Widows marital fourth shall he exempt.
Second collateral relations of the sec
ond degree, intending nephews ana
nieces and their descendants when the
estate is divided by roots, with an eN-
emption of s. 600 to each root. and da ugh
'ers law with an exemption OF sicoo
each
Third. collateral relations Of the third
degree. excluding nephews and niec"S
and their representatives, with an ex-
enrtion 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
lations beyond the sixth degree, with an
exemption OF 500 each.
The ma Ximum 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 thlrd class.
twenty-five per cent Yer me f"n f,," c,ass'
and thirty per cent for the fifth class.
ma xinum rates to he attained when any
Inheritance legacy, or donation exceeds
a half million dollars.
And the minimum rates OF such tax
shall he one per cent for the first class,
two and one half per cent for the second
class. three and three fourths per cenf
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
Quoted from said inheritance. legacy
or other donation. would leave the
beneficiary smaller net amount than
he would have received had the IN
heritance legacy other donation fallen
into the next lower class In the classi-
fcation according to amount of act
ual cash value then the rate of taxation
shall be first calculated upon the maXi@
mum amount in said next lower class
and the remaining amount OF the Inherit
ance. legacy, or other donation shali hS
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 ne avoided by
the exemption OF corporal property be-,
longing to a decedent OF this State, ana
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 non resident
decedents. such as shares OF stock in
Louisiana corpora tons. notes, bonds, ana
evidences Of debt due by Louisiana debt
the same extent.
This tax shall also be applied to all do
ma lions inter vivos the dOnees to be dt-
vided into the same classes hereinbefOr6
defined. All donations inter vivos to the
same person within a period OF five years
shall be taxed II together constitu-
ting single donation.
Legacies and donations inter vivos 10
educational, religious or charitable instl-
buttons, or to trustees for educational, re-
ligious or charitable purposes, shall be
exempt from this tax, unless sueh d9n ma,
ton, or legacy shall be more than halt.
of the disposable portion OF the tesoaT
tors or donors estate, in which caso'
the tax shall be imposed upon the entire
legacy donation and the leeatees " :
donees shall be considered to be within
| the third class. A..
General Assembly by a vote OF two-thira s
| OF all the members elected to each nouse
may from time to time prescribe.
l. The General Assembly shall have
| power to levy license taxes only on per-;
| sons, partnerships associations and cor
pora lions engaged in business or occupa-
| lions that fall strictly under the domalH
OF the police power, and for that purpose
| to classify all such businesses and occu-.
| pations, and to graduate the tax within
| each class. er
2 Local subdivisions Of the State gov->
| eminent 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-
ing section for the State. save that such
| local licenses as may be levied on traff1o
| in malt, vnous and alcoholic liquors shall
not be less than those levied by the State
| nor less than those now or hereafter to
| be prescribed by the General Assembly as
| minimum local licenses.
g. Such local subdivisions each may
determine fer ttself shall also have the
right to levy license taxor CLASSIFIED ana
graduated with due respect 10 equality
with IN oh Clo loo m
businesses and occupations not covers5e>
by Section Of this Article; save and ex-"
cept licenses on corporations. persons,
firms and associations whose property or
reserved to the State and save and ex
cept licenses on individuals engaged In
trades occupations and callngs involving
the personal labor or skill Of the person
to be taxed, and not falling within the
domain Of the police power; and save and
except corporations. associations. part-
featuring or industrial pursuits whose
capital stock, or capital In business ii
less than I'VE thousand dollars, and not
falling within the domain OF the police
power; and save and except persons,
firms and corporations engaged in agr1-
cultural or horticultural pursuits. In no
event shall any such local license OK
coed one-tenth Of one per cent Of the
gross receipts of the licensee, provided
that no license shall be less than $500,
nor shall the licenses provided for f1
this section be levied unless the general
property tax Of each taxing locality, when
exercised to sixty per cent of it's limit.
shall not be sufficient to pay the expenses
Of its government. Whenever a munich
pal license equals the license levied by
the parish, only the municipal license
shall be due and collectible.
Article v.
I. All assessments of property for
State purposes shall be made by a State
Tax Commission, composed Of three
members to be elected, not later than
July LIST, 1918, by a Board composed of
the Governor, the State Auditor and the
State Treasurer. from among the quail
fed electors OF the respective Railroad
Commission Districts, az constituted at