The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-09-28

, surplus and undivided profits less the as
sessed value of real estate locally as
sessed and taxed. and less such furthe
deductions Of not less than FIVE per cen
on their loans and discounts to cover bat
debts and unearned interest as the Gen
eral Assembly may prescribe, which de-
duction shall be made only from thei
surplus and undivided profits; all take.
TO be paid by the banks and charged Il
the stockholders
4. Individual bankers. banking firms
and unincorporated banking associations
domiciled In this State, shall be assessed
on the amount of capital, surplus anc
undivided profits actually employed In
their business, less the assessed value OF
real estate locally assessed and taxed
actually and exclusively used and EN-
ployed In their business. and less such
further deductions not less than five pei
cent on their loans and discounts to
cover bad debts and unearned interest as
the General Assembly may prescribe
which deduction shall be made only from
their surplus and undivided profits
o. Foreign banks and individual bank
ers. banking firms. and upincorporated
banking associations. domicifed ort of the
shall be assessed on such proportion of
their capital, surplus and undivided
profits as Is actually employed in this
State. less the assessed value of real es-
and exclusively used and employed in
their business in this State, and less
such further deductions. not less than
five per cent on their loans and dis
ed interest as the General Assembly
may prescribe. which deductions shall
be made only from their surplus and I'M
divided profits.
8. Insurance. bonding and surety COM
panfes, ana persons, firms and associa-
lions engaged In the insurance bonding
and surety business, excluding however,
fraternal insurance companies and asso-
Citations, shall be taxed on a percentage
OF their gross premiums received upon
their business done in this State. less
return premiums and reinsurance In COM
panies or associations authorized to do
business In this State. The percentage
aforesaid shall not exceed three per cent
for all branches of insurance, bonding
and surety business, except life and
Industrial Insurance and shall not ex-
coed two per cent for life and Industrial
insurance The special taxes to support
the ONCE OF fire marshal and fire pre-
ventfon bureaus shall not be deducted
from the premiums hereby authorized to
be taxed. When by the laws of any other
state or country. any taxes fines, PEN
aities, licenses. fees, deposits OF money
Or of securities, or other OBLIGATIONS or
prohibitions are imposed on insurance.
bonding or surety companies of this State
doing business in such other State or
country, or upon their agents therein In
excess OF such taxes. penalties, fees, IL
censes, deposits OF money, or of securf-
lies, or other obligations or prohibitions
imposed upon such Insurance. bonding
Or surety companies of such other State
Or country. so long as such laws continue
n force the same obligations and prohf-
1ftions or whatsoever kind may be i'm
posed by the General Assembly of this
state upon insurance. bonding or surety
companies of such other State or country
IN fa
Z. irrigation canals shall be taxed on
percentage not to exceed two per cent
y their gross/receipts. only such real es-
ate and the buildings and structures
hereon. rights OF way, machinery. tools
md implements as are necessary 70 the
'peration OF any canal shall be Included
n and covered by this tax on gross re-
'eipts- All other real estate and personal
'roDertv Of the owner of any canal shall
'e locally assessed and taxed.
3. All sugar reineries, rice mills cot
on seed oil mills. cotton seed OIL re-
'ineries and reffueries of petroleum ani
Is products shall be assessed on the fair
p. Until otherwise provided by the
General Assembly by vote Of two-thirds
Il the members elected to each house. all
perating mines Of sulphur, salt or other
all oil or gas wells. ALI stone
uarries. sand, gravel and shell rfts shall
re taxed upon a percentage of the gross
.a'ue OF the product at the mouth of
ne mine. well. uu9fry or pit This per-
entage shall not exceed five per cent for
upnur: three per cent for salt: two and
ne-haff per cent for oil end gas. and
wo per cent for rock and other minerals
OF gravel. sand and shells. This
Ak shall not apply to the product of any
nlnes. ouarrles or Pits or oil or gas wells |
where the owner, other than public SER J
Ice corporations. uses the same for his |
ersonal purposes and does not sell the
anne or its products or manufacture the !
anle into another product for SALE !
Where gravel. sand or shells are taken |
rom the beds of public waters or from |
hores not subject tn private ownership |
he General Assembly may levy specfaI /
exes rer cubic yard ~ material taken |
ut and may levy different srecfal tax
NJ each OF said objects of taxafion. The
government IF the United States for anv
uruoscs. and contractors engaged in the
obstruction ~ anv public work for the
tate or for the United States solely for
he purpose of such public work are nv
hrrized II take free from, taxation |
-avel. shell or sand from the beds Of |
rb.ic waters and the public shores of /
he State. Every citizen IF the State
hall have similar right to take such /
Materials for his own rersonal use free
rom taxation. unless they are taken for
ale. All. real and personal property Of |
he Owners OF such mines. wells. Queries
lerents absolutely essential to the on
ration OF any mine. oil or s-as we'll STONE
uarry. sand. gravel or shell pit ana exe
ept the products themselves whi,e In
pc hands Of the producer, shall be To-
Nv assessed and taxed
10. All real and personal property re-
erved for local taxation shall be assessed I
such percentage not to exceed 100 per
emit OF Its fair market value as each To- |
al governing authority may establish.
nd lower percentage may be estab- /
shed for personal than for real property /
for the values of improvements than I
IT land values.
~ In all assessments Of real property
neither for local or for State purposes.
ne value Of the land shall he assessed
erarately from the valne of the fuproye- |
tents; hut railroad pine lire and canal /
ghts Of wav, whether held in fee or nm
er easement. may he assessed separatelyt
ON. or together with, the in,rrovements |
hereon as the Tax Commission waay /
eem most practicable
IL. Assessments shall be ara need reo- |
raphically as far as possible either rfnon |
'e ron or unnn separate records and the
enerai Assembly shall mass laws nro
lding Tor the printing and publication in
amphlet form ri the records. showing
ich geographically arranged assessments
nall price.