The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-11-02

i. clear to more pensions if the peo
pie desire it.
The present system gets the cost
OF roads and pensions from all prop
erty. The reform amendment gets
the road money and pension money
from the corporation and special in
terests, cuts the taxpayers bill by
a mill, gives the parish another mill
never collected by the state and
leaves the roads and the veterans
better off than before. You NAV
check this statement by reading the
amendments.
AN state license taxes, except on
saloons and other businesses strict.
ly under police power, are abolished.
Inc parishes are permitted to levy
licenses as at present except on per.
sons making a living without using
ratlons not to exceed 2 cents a share.
On the organization of domestic
corporations for profit, banks, frater-
hal insurance companies and building
and loan associations, not to exceed
SIC and not more than one-twentieth
CT per cent on the increases.
A graduated scale is provided for
the organization of private corpora,
tons for the privilege of exercising
corporate functions.
The annual ad valorem tax on all
automobiles and horseless vehicles
used for the transportation of per-
sons or freight for hire.
On cotton future contracts id lieu
OF all licenses to future brokers. On
all grain, coffee, rice and sugar flu
ture contracts.
On lnheritances for the benefit of
the general fund. Every detail of
the collection of inheritances is de-
scrlbed in the amendment.
Local political subdivisions shall
have the power to levy licenses on
businesses and occupations falling
strictly within the police power do
main, except that local Licenses lev.
led on the liquor traffic shall not
be less than the licenses levied by
the State. Such local subdivisions
shall have the right, as each may de-
termine, to levy license taxes, clas-
slfied and graduated, with due res
pect to equality and uniformity with.
in each class; on all businesses not
covered in Article II, under certain
restrictions. In no event shall any
local license exceed 10 per cent of
the gross receipts of the license.
provided that no license shall be
less than SIS. Whenever a municipal
license equals the license levied by
the parish, then the municipal IL
cense shall be the only one due
and collectable.
All assessments for State purposes
shall be made by the State Tax Com.
mission. The office of the commits.
sion shall be at Baton Rouge, and
each member shall receive a salary
IT $4,000 per annum, with actual tray.
cling expenses.
An important feature of the com.
mission is that 1t shall have the
'lght and power to summon witnesses
md compel the production of books
Ind papers.
After Jan. l, 1914, ali assessments
or State purposes, with certain ex-
shall be made by April 1,
VI each year, and the taxes shall be
lue and payable on the first Monday
n June. Taxes shall become delin.
luent on the first Monday In Sep.
ember
Public service corporations shall be
on their physical property
nd on their franchises separately.
Incorporated banks shall be assessed
" assessing the stockholders in the
'ook value Of the stock. Individual
'ankers, banking firms and unincor.
'orated banks, shall be assessed on
he amount of capital, surplus and I'm.
Iivided profits actually employed i'll
he business. Certain deductions are
made to cover local assessments,
'ad debts, unearned interest, etc.
Foreign banks, individual bankers,
'anking firms, ETC., shall be assessed
N such proportion OF their capital
IS is actually employed in the State,
ess certain deductions.
Insurance, banking, surety compa.
lies, persons, firms and associations,
Exclusive of fraternal associations,
hall be taxed on a percentage OF
{Cantinned nm naoo funf