The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1912-10-10
ansfer OF stocks in
exceed 2 cents a


and building and loan or
association. not to exceed
8 fiat, plus not to exceed one
of one per cent of the author
pital stock and surplus, which tax
A. De levied upon increases OF capllai
ek as well as upon original issues
r g. A tax on private corporations, or
eanized for profit, for the privilege or eN-
ercising corporate functions, not to eX-
! coed one-twentieth of one per cent per
| annum on the outstanding capltal stoch
! and surplus, excluding banks, fratefnai
| and life insurance companies ana bulid-
| ing and loan or homestead associations;
/ no such tax to be less than five dollars:
| On foreign corporations this tax shau
| be levied on such proportions OF their
capital stock and surplus as is USED N
| this State in intra-Stat business; III
! lieu of the franchise tax on caRltal ahd
surplus, life insurance companies, 1oTeigh
/ and domestic. not including fraternai m
| surance associations, shall pay annually
| a fiat fee of $4,000 plus 81 30 on each
! 81 000. 90 of premiums collected IN LOUIS
! lana during the preceding year
| automobiles and taxicabs, and also on
| all other auto-driven vehicles used for
| transportation of persons or freight Tor
hire, with permission to the local govern
| ment of the residence of the owner to
| levy an annual license tax not to exceed
| S.. co. One-half of the proceeds of this
! State tax collected from each owner shall
| go to the State good roads funds; the
| remaining moiety Of such tax shall be
maid over by the State to the governing
| authority of the locality from which the
machine is registered, to be devoted voted, ex X
| the Improvement of the public highways
within it's jurisdiction.
5. A tax on cotton future contracts
in lieu of all licenses to future brokers,
of not more than fifteen nor less than
ten cents on each purchase and sale OF
each 100 bales, to be paid on each trans
action, one-haf by the buyer and one
half by the seller.
6. A tax on grain. coffee, rice and
sugar future contracts, in Leu OF all
licenses to future brokers. of not more
than one and one-half per cent nor less
than one per cent on the commissions
paid on each transaction. Each unit con
tract as established by the rules of the
of the tax, to be paid. one alf by the
buyer and one-half by the seller.
T. A true, progressive inheritance tax
for the benefit of the General Fund, an1
If such tax is levied all benefciaries sinai
be divided into the following classes Win
the following maximum exemptions 1oi
each class
spouses, with an exemption of $4,000 each
except as to the widow. when the ex-
emption shall be 5000. and except as to
children under the ages OF s6 sixteen " Tbe
widows marital fourth shall be exempt
Second. collateral relations of the sec,
ond degree, including nepheWs a .Io
estate Is divided by roots with an eX-
emption of 81, 600 to each root, and daugn-
ters-in-law with an exemption OF $1,s0t
each.
Third, collateral relations Of the third
degree. excluding nephews and nieces
and their representatives, with an eX-
emption of $500 each. .,
Fourth. all other collateral relations
within the sixth degree inclusive, witt
an exemption of $3.50 each.
Fifth, strangers and all collateral re-
lations beyond the sixth degree, with az
exemption of $10o each.
The maximum rate of the progressive
tax shall not exceed eight per cent Tor tht
first class, twelve per cent for the seeonc
class sixteen per cent for the third class
twenty-five per cent for the fourth class
and thirty per cent for the fifth class
maximum rates to be attained when any
inheritance, legacy, or donatlon eAceeu'
half million dollars.
And the minimum rates OF such tai
shall be one per cent for the first class
two and one-half per cent for the secont
for the third class, seven per cent Tor tht
fourth class, and thirteen per cent FOL
} the fifth class. Whenever the rate o
| assessment levied against any INHERIT
ance. legacy or other donation, when de-
Quoted from said inheritance, 1egac!
or other donation, wauld leave thu
beneficiary a smaller net amount tnai
, herftance, legacy or ether donation fallei
} into the next lower class in the ciassi
;. flcation according to. AMOUNT of act
shall be- first calculated upAn the maxi
i y,ST,, amount 1 fi ssa iowsf class
and the remaining amountS the inherit
4 ance. legacy, or other donation shall be
taxed at the rate fixed FIR the higher
class into which the 1,s,a inheritance legacy
| Duplication of Inheritance taxes as be-
tween this State and other states, Tor
eign and domestic, shall be avoided by
L. - tV a
longing to a decedent of this State. and
situated outside of this State. to the ex-
tent of any inheritance tax of such other
State; and by the exemption OF ineor,
decedents, such as shares OF stock In
Louisiana corporations, notes. bonds, ane
evidences of debt due by Louisiana debt
ors or bearing on Louisiana property, &c
the same extent.
This tax shall also be applied to all do
nations inter vivos, the denees to be d.
defined. All donations inter vives to the
same person within period OF flve years
shall be taxed as If together constitu-
ting a single donation.
educational, religious or charitable insti-
tutians, or to trustees for educational, re-
ligious or charitable purposes, shall bt
exempt from this tax, unless such dona-
ton, or legacy, shall be more than hall
of the disposable portion of the tesla
tors or donors estate, in which case
the tax shall be imposed upen the entire
legacy or donation and the iegatees OF
donees shall be considered to be within
the third class.
s. Such other special taxes as the
General Assembly by vote Of two third:
J of all the members elected to each house
may from time to time prescribe.
Article w.
l. The General Assembly shall have
power to levy license taxes only on per
sons, partnerships, associations and cor
porations engaged in business or occupa'
lions that fall strictly under the domain
of the police power, and for that purpose
J to classify all such businesses and occu
pations, and to graduate the tax within
| each class.
J Q. 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 sucl
local licenses as may be levied on trafht
in malt, vinous and alcoholic liquors shall
not be less than those levied by the State
nor less than those now or hereafter tt
be prescribed by the General Assembly a.
minimum local licenses.
8. Such local subdivisions as each ma!
determine for itself shall also have the
right to levy license taxes, classified anC
| graduated with due respect to equalit!
and uniformity within each class, on Hl
, businesses and occupations not covered
by Section 2 of this Article; save and ex
cept licenses on corporations, persons
business is among the sources of revenue
reserved to the State, and save and ex
cept licenses on individuals engaged II
trades, occupations and callings involving
the personal labor or skin of the person
to be taxed, and not falling within thu
domain of the police power: and save anC
except corporations, associations, part
nerships or individuals engaged in manu-
featuring or industrial pursuits Whose
capital stock, or capital in business, Il
less than FIVE thousand dollars, and no
falling within the domain of the police
power; and save and except persons
cultural or horticultural pursuits. In nj