The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-09-28
cue In each locality whore such real

! foreign or domestic, and all persons
g ana partnerships engaged in insur-
. ing persons Or property, save that
. all the real estate and corporal
property of such companies, persons
!. or partnerships shall be locally as
: sessed and taxed.
: 9th. All sugar refineries. rice mills
S cotton seed oil mills, cotton seed oil
: lei!nerleS and retineries of petroleum
! and It's products. A sugar refinery
is hereby defined to be a concern
tLdt DuyS and refines raw sugar ex.
cLusNely, or a concern that BUYS and
EeIlneS more raw sugar than the az.
sTegate OF the sugar produced bv il
from cane grown and purchased bv
it. ~
9Th. All mines of sulphur salt Or
other minerals, all oil or gas wells
shell pits. " u "D0
). Only the operative property of
state sources Of revenue shall he
segregated to the State. The Gener.
a. Assembly shall define, in a man.
ner not inconsistent with any bro.
visions Of this amendment what thn
operative property of each such
source u.s. Real estate and the i'm
pToEements thereon forming part OF
any railroad terminal, depot or ward
OF warehouse or shop, acquired after
july l, 1917, even though it NAV form
part OF the operative property of any
fdlT0ad, shall not be considered
| source Of state revenue except nv
constitutional amendment unless
Such property had been, prior to said
cate, part Of a railroad terminal. de.
pot, yard, warehouse or sh0D,
T. All other property subject IN
taxation, except as herein specified,
or except as may hereafter be direct.
ed by vote of two-thirds of all the
members elected to each house of The
Genera! Assembly, shall be sources
Of local taxation.
Article III.
The General Assembly shall have
power to levy for State purposes the
following special taxes:
L. A tax on the transfer Of stocks
IN corporations not to exceed 2 cents
share.
z. A tax On the organization of
domestic corporations, organized for
profit, excepting banks, fraternaI in
surance companies, and building and
loan or homestead associations NOT
TO exceed ten dollars flat. plus not
to exceed one-twentieth of one per
cent Of the authorized capital stock
and surplus, which tax shall be lev
led upon increases of capital stock
as well as upon original issues.
.. a tax on private corporations.
organized for profit, for the privilege
OF exercising corporate functions. not
to exceed One-twentieth Of one Der
cent per annum on the outstanding
capital stock and surplus, excluding
banks, fraternal and life insurance
companies and building and loan or
homestead associations; no such tax
10 De less than five dollars. On for
elgn corporations this tax shall be
levied on such proportions of their
capital stock and surplus as is used
N this State in interstate business.
In lieu of the franchise tax on capi.
tai and surplus, life insurance com.
panles, foreign and domestic. not in.
5lUdlng fraternal insurance associa-
IONS, shall pay annually flat fee of
'!oO.OO plus $3.50 on each 100000
u premiums collected in Louisiana
turing the preceding year.
4. An annual ad valorem tax on
II automobiles and taxicabs. and al.
o on all other auto-driven vehicles
sed for transportation of persons or
relght for hire, with permission to
lie local government of the resi-
ence Of the owner to levy an annual
-cense tax not to exceed $500. One
ali OF the proceeds of this State
Ak collected from each owner shall
o to the State good roads funds;
ne remaining mOiety of such tax
nall be paid over by the State to
lie governing authority of the local..
from which the machine is regis
sTed, to be devoted exclusively by
lch governing authority to the i'm
,oVement Of the public highways
thin it's jurisdiction.
D. A tax on cotton future con.
acts, in lieu of all licenses to fu-
re brokers', Of not more than fiji.
en- nor less than ten cents on
cn purchase and sale of each 100
lies, to be paid on each transac-
IN, one-half by the buyer and one.
If by the seller.
g: A tax on grain. coffee, rice
ID sugar future contracts. in lieu of
licenses to future brokers, of not
ore than one and one-half Der cent
r less than one per cent on the
paid on each transac-
n. Each unit contract as estab.
ned by the rules of the respective
changes shall be the basis of the
(, to be paid, one-half by the buy.
and one-half by the seller.
+. A true, progressive Inheritance
for the benefit Of the General
nd, and If such a tax is levied all
1etlclaries shall be divided into
following maximum exemptions
each class:
'lrst, ascendants, descendants, and
fuses, with an exemption Of $4,000
h, except as to the widow, when
exemption shall be $4,000, and ex.
t as to children under the age Of
:een, when the exemption shall be
10 each. The widows marital
rth shall be exempt.
eCOnd, collateral relations of tho