The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-24
surplus and undivided profits

surplus and undivided profits.
s. Insurance, bonding and surety
companies, and persons, firms and as
sociaticns engaged in the insurance,
bonding .-.4d surety business, excll1'
ing, however, fraternal insurance COM
panies and associations, shall be tax
ed on a percentage of their gross
premiums received upon their bus
mess done in this State, less return
premiums and reinsurance in compa'
MES or associations authorized to do
business in this State. The percent
age aforesaid shall not exceed three
per cent for all branches of insur'
ance, bonding and surety business,
except life and industrial insurance
and shall not exceed two per cent
for life and industrial insurance. Inc
special taxes to support the office or
| fire marshal and fire prevention bu-
reaus shall not be deducted from the
premiums hereby authorized to be
taxed. When by the laws OF any oth-
err state or country any taxes, 1lues,
penalties, licenses, fees, deposits OF
money or of securities, or other oOll.
cations or prohibitions are imposed
: on insurance, bonding or surety COM
panies of this State doing business
in such other state or country, or up
ON their agents therein in excess or
such taxes, penalties, fees, licenses,
deposits of money, or Of securltles,
or other obligations or prohlbltlons
imposed upon such insurance, bond'
ing or surety companies OF such 9TH
or State or country, so long as such
, laws continue in force the same OBJ
legations and prohibitions OF whatso-
ever kind may be imposed by The
General Assembly of this State upon
insurance, bonding or surety compa'
l MES of such other state or country
l doing business in this State.
| Z. Irrigation canals shall be taxed
y on percentage not to exceed TWO
:, per cent of their gross receipts. only
such real estate and the buildings
I and structures thereon, rights OF way,
, machinery, tools and implements as
: are necessary to the operation OF
f any canal shall be included in and
: covered by this tax on gross receipts.
All other real estate and personal
I property of the owner of any canal
3 shall be locally assessed and taxed.
e 8. All sugar refineries, rice mills,
: cotton seed oil mills, cotton seed OIL
! refineries and refineries Of petroleum
. and it's products shall be assessed on
, the fair market valuation.
h 9. Until otherwise provided by the
e General Assembly by a vote of two
9 thirds of the members elected tc
each house, all operating mines OF
. sulphur, salt or other minerals, all OF
;. or gas wells, all stone quarries, sand
gravel and shell pits shall be taxed
upon percentage of the gross value
of the product at the mouth of the
: mine, we'll, quarry or pit. This per
J. centage shall not exceed five pei
n cent for sulphur; three per cent fol
e salt; two and one-half per cent fo]
oil and gas, and two per cent TO-
e rock and other minerals, inclusive o
g gravel, sand and shells. This ia!
A shall not apply to the product OF an!
mines, quarries or pits or oil or ga
y wells. where the owner, other thai
=! !. public service corporations, uses tn
70 same for his personal purposes AM
does not sell the same or It's pro
ducts or manufacture the same int
another product for sale. Where gray
8. ell, sand or shells are taken from Tn
(. beds of public waters, orfrom shore
IL not subject to private ownership, tn
vt General Assembly may levy specla
e. taxes per cubic yard Of material tax
st en- out and may levy different spe<
I'd ial tax for each Of said objects q
st taxation. The Government Of tn
+. United States for any purposes, an
IL contractors engaged in the construt
Or ton of any public work for the Stat
s. or for the United States solely fo
al the purposes of such public work ar
C. authorized to take free from taxatlo
ne gravel, shell or sand from the bed
Sc of public waters and the public shore
b. of the State. Every citizen of tn
is State shall have similar right
Is, take such materials for his own pc
be sonal use free from taxation, unles
20 they are taken for sale. All rel
and personal property of the owner
all of such mines, wells, quarries and pi
Dr. except machinery, tools and impl
~, ments absolutely essential to the o
We Grafton Of any mine, oil or gas wei
on stone quarry, sand, gravel or she
20 pit, and except the products ther
tn selves while in the hands of the pr
to Queer, shall be locally assessed al
or taxed.
ISL TO- All real and personal proper
ler reserved for local taxation shall
assessed at such percentage not
as. exceed 100 per cent of it's fair ma
,rs ket value as each local governi1
e., authority may establish, and a low
led percentage may be established +
cal personal than for real property
ed. for the values of improvements TIL
of for land values.
cir II. In all assessments of real pre-
lad erty whether for local or for Sta
the purposes, the value of the land sh
be, be assessed separately from the val
My Of the improvements; but rallrof