The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-09-21

State steamboat. motor boat, steamship
ferry, barge, and tug, or other wafer
craft. where operated for hire, canal ior
transportation or irrigation and pipe line
for oil or gas. When the electric light
and power business conducted In con-
junction with any street railroad can 20
road business for purposes of assessment
then such severance shall be made by
the Tax Commission and such electric
light and power business shall not be
source of State revenue.
Bird. All banks, State and National,
including savings banks, trust banks ana
whether individuals or partnerships, save
that the real estate of all banks and
bankers shall be locally assessed and
taxed. The assessments of the real
estate of banks and bankers shall be
equaiized annually by the Tax Commits
sion to the basis established and in vogue
in each locality where such real estate
4th All insurance companies includ-
Ing bonding and surety companies, for
eign or domestic, and all persons ana
partnerships engaged in insuring persons
or property, save that all the real estate
and corporal property OF such companies,
persons or partnerships shah be locally
assessed and taxed.
5th. All sugar refneries, rice mills.
cotton seed oil mills. cotton seed oil re-
fneries and refineries of petroleum and
defined to be a concern that buys and re-
| fines raw sugar exclusively. or concern
that buys and ref3nes more raw sugar
than the aggregate of the sugar produced
by it from cane grown and purchased by
| II.
sth All mines Of sulphur. salt or other
| minerals, all oil or gas wells, all stone
Quarries sand gravel and shell pits
g. Only the operative property of State
| sources OF revenue shall be segregated to
| the State The General Assembly shall
| dehne in a manner not inconsistent with
any provisions Of this amendment, what
| the operative property of each such
source is Real estate and the improve
ments thereon forming rnd part q q any rail-
house or shop. acquired after July j.
| 1912. even though 1t may form part OF
the operative proDerty OF any railroad,
shall not be considered a source Of State
revenue except by constitutional amend
mept unless such property bad been.
prior to said date. part Of railroad ter
minal, depot, yard, warehouse or shop
T. All other property subject to taxa
tion. except as herein specihed, or except
| as may hereafter be directed by vote
Of two-thirds Of all the members e'ected
to each house Of the General Assembly,
shall be sources Of local taxation.
/ Article ~.
The General Assembly shall have power
to levy for State purposes the following
special taxes:
/. A tax on the transfer of stocks in
corporations not to exceed cents
share.
q tax on the organization of do
nestle corporations. organized for profit,
companies and building and loan or
homestead association. not TO exceed
ten dollars fiat, plus not to exceed one
lied capital stock and surplus, which tax
| shall be levied upon increases OF capital
stock as well as upon original issues.
ranized for profit. for the privilege Of ex-
ercising corporate functions, not to ex-
coed one-twentieth of one per cent per
annum on the outstanding capital stock
and surplus, excluding banks. fraternai
and life insurance companies and build
ing and loan or homestead associations;
no such tax to be less than hve dollars.
On foreign corporations this tax shall
be levied on such proportions OF their
capital stock and surplus as Is used in
| this State In intra-State business. In
lieu of the franchise tax on capital ana
surplus. life Insurance companies. foreign
| and domestic, not including fraternal In
surance associations. shall pay annually
a fiat fee of $4,000 plus $3.50 on each
J So 10000 Of premiums collected in Louis
| lana during the preceding year.
A. The annual ad valorem tax on all
automobiles and taxicabs. and also on
all other auto-driven vehicles used for
, transportation Of persons or freight for
hire. with permission to the local govern
ment OF the residence OF the owner t3
{ lew an annual license tax not to exceed
$500. One-half of the proceeds Of this
State tax collected from each owner shall
go To the State good roads funds: the
paid over by the State to the governing
authority Of the locality from which the
machine Is registered, to be devoted ex-
the IMPROVEMENT 81 the public highways
within its jurisdiction.
s. A tax on cotton future contracts.
n lien Of all licenses sts to future nr es ea
ten cents on each purchase and sale OF
each 100 bales. to be paid on each trans
action. one-helf by the buyer and one
: g. A tax on grain, coffee. rice and
e sugar future contracts. In lieu OF All
e licenses to future brokers. OF not more
: than one and oRe-half per cent nor lesf
than one rer cent on the commissions
! paid on each transaction. Each unit con-
/. tract as established by. the rules Of the
i II the tax, to be paid. one-hak by the
u buver and one-half by the seller
% ~ A true. progressive Inheritance tay
: for the beneht Of the General Fund. an<
Il " such tax is levied all bepefciaries sha!
v Re divided into the following classes Will
u the following maximum exemptions FOL
First. ascendants. descendants. and
p srouses, with an exemntion of $4,000 each
j. excert as to the widow, when the ex
SSTsn nse ase. s e"
= the exemption shall he $500 each. Tn,
r widows marital fourth shall he EXEMPT
n Second. collatsra, relations ~ the sec sec,
N rieces and thei- descendants when thu
l. estate is divided by roots. with an ex
ri emotion Of 81 Gao to each root. and daugh
l. 'ers-in-law with an exemption OF $1.oe
10 each.
Third. collateral relations of the thir'
,e 1eeree. excluding nenhews ard niece
g. md their representatives, with an ex
ID emntion Of $500 each.
D. Fourth. all other collateral relation
ID within the sixth degree inclusive, wit
Il. an exemption OF $3.50 each.
he Fifth strangers and all collateral re
e. 'ations beyond the sixth degree. with a.
b. exemption Of 500 each.
n The maximum rate Of the progresaiv
IN tax shall not exceed eight per cent for tn
o. first class. twelve per cent for the secon
er class. sixteen per cent for the third class