The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-08-31

State; steamboat, motor boat. steamship
ferry. barge. and tug, or other watet
transportation or irrigation. and pipe line
for Oil or gas. When the electric light
and power business conducted In corN
junction with any street railroad can Be-
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.
3rd. All banks, State and National
including savings banks, trust banks and
trust companies. and all private bankers.
that the real estate OF all banks and
bankers shall be locally assessed ana
taxed. The assessments of the real
ESTATE Of banks and nd t bankers shall 3
sion to the basis established and in vogue
in each locality where such real estate
4th. All insurance companies INCLUDE
ing bonding and surety companies. for.
eign or domestic, and all persons ana
partnerships engaged in insuring persona
or property, save that all the real estate
and corporal property of such companies
persons or partnerships shall be locally
assessed and taxed.
5th All sugar refneries. rice milla
fineries and refneries Of petroleum and
its products. A sugar refinery is hereby
defined to be concern that buys and re-
fnes raw sugar exclusively, or concern
that buys and refines more raw sugar
than the aggregate Of the sugar produced
by 1t from cane grown and purchased By
9Th. All mines OF sulphur. salt or other
minerals, all oil or gas wells. all stons
quarries, sand. gravel and shell pits.
J. Only the operative property of STATE
sources Of revenue shall be segregated t0
the State. The General Assembly shall
define. in a manner not inconsistent with
any provisions Of this amendment, what
the operative pgoperty OF each such
ments thereon forming part of any rail-
road terminal. depot or yard or ware
house or shop, acquired after July Il
1912, even though It may form part q
shall not be considered a source of State
revenue except by constitutional amend
ment, unless such property had been,
m de sss yard warehouse or shop
4. All other property subject to taxA-
ton, except as herein specified. or except
as may hereafter be directed by vote
to each house Of the General Assembly.
shall be sources Of local taxation.
Article III.
The General Assembly shall have powoR
to levy for State purposes the followin9
special taxes:
corporations not to exceed cents .
share.
| .. tax on the organisation of do-
nestle corporations, organized for pr0nts
excepting banks, fraternal Insurance.
homestead association. not to exceed
| ten dollars nat, plus not to exceed one
twentieth Of one per cent Of the author
sp stock ana w "
stock as well AZ upon original issues- !,
| 8. A tax on private corporations, or,
ganized for profit. for the privilege OF ex-
coed one-twentieth Of one per cent 20
annum on the outstanding capital stock
and surplus, excluding banks, fraternns
and life insurance companies and buiIo7
no such tax to be less than f1ve doIlar9!
On foreign corporations this tax n11U
be levied on such proportions Of tho1k
this State In interstate business 4
| lieu of the franchise tax on capital a.
surplus, life insurance companies. foreign
and domestic, not including fraternal mi
q nat fee Of $4,000 plus $50 on eaei
SO, 600 90 Of premiums collected In LoulBJ
lana during the preceding year
/ 4. The annual ad valorem tax ON an
AUTOMOBILES and taxicabs. and also o.
all other auto-driven vehicles used loU
transportation Of persons or freight 10
hire, with permission to the local govern.
levy an annual license tax not to excee4
$500 One-half Of the proceeds Of No
State tax collected from each owner shan
go to the State good roads fupes: The
paid over by the State to the governing
authority Of the locality from which the
machine Is registered, to be devoted ex~
clusively by such governing authority TO-
within its jurisdiction.
g. A tax on cotton future contractA
in lieu Of all licenses to future brokersS
Of not more than fifteen nor less than,
nm "a "a NJ ~
each 100 bales. to be paid on each tfAAsS
action. one-half by the buyer and ontz
half by the seller.
s. A tax on grain, coffee, rice ana
sugar future contracts, IN lieu OF an
licenses to future brokers. Of not more
than one and one-half per cent nor Ies1
than one per cent on the commissions
tract as established by the rules Of the
respective exchanges shall be the basis
Of the tax, to be paid. one-haif by th6
true 3 sns n sssf -.
for the benefit Of the General Fund, and
n such tax Is levied all benehciaries shall
be divided into the following classes WITH
the following maximum exemptions foa
First ascendants, descendants. ana
spouses. with an exemption Of $1,000 each,
emption shall be 5000. and except a. ii
children under the ages Of sixteen. when
the exemption shall be $500 each. The
widows marital fourth shall be exempt-
| Second, collateral relations Of the Doc-
ond degree. including nephews and
i nieces and their descendants when the
estate Is divided by roots, with an exc
emption Of 81 900 to each root, and daugh-
ters-in-law with an exemption Of 1900
Third. collateral relations Of the thru
degree, excluding nephews and nfecea
ana their representatives, with an axe
emption Of $500 each.
| Fourth. all other collateral relations
within the sixth degree inclusive, WITH
an exemption Of $3.50 each.
| Fifth, strangers and all collateral ~
lations beyond the sixth degree. with a.
! exemption OF 800 each. = !.
| The maximum rate Of the progressive
tax shall not exceed eight per cent for the