The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-09-07

uurpIus and undivideo Piotit. Incailv as
tse ssed and taxed, and less SUCH 1urlns st
Jeductions Of not less than I'VE a Pc had
an their loans and discounts 10 t t1,. Can
2hts and unearned interest as Lne pa &C.
sau A ssen1bly may prescribe, Whlcn uS
Jnct,on shall be made only ron ii +axas
s,,rnIus and undivided prohtsi 49,, an eaN n I
to be paid by the pahh7 "AO
txe stockholders. ,r,,,, firms |
Individual bankers. bankllis u.s. a. &c, |
and unincorporated banking associ sa e.o.S;
domcied in this State 81. snah s pT and
an the amount of capital, surplus aI.e5 an in |
p,, pr profits actually empioyed ~ ~
their business. less the assessed va taved
real estate locally assessed any n,a 'af em
tn4naI1v and exclusively used anu eli |
nioWed in their business, ana Tess SUI pa
Surtf1er deductions not less tnan nse r.
cant on their loans ana daSco tna4 &C
cover bad debts ana ul'ea nav nV prescribe,
witch deduction shall be MADE onls iioitA
their surplus and undivided ptonoSS' honl-
S. Foreign banks ana lh ,ulnirnnrnorated
ers, ,,,,na, assocfatons, dorniciled out OF the
STATE but doing Business in this stare
shall be assessed on such ptopo. Nh
4i,afr capital surplus ana uhalsl NJ:
nrofts as is actually employed in tillS
State. less the assessed value OF Tea l,a T9
tate locally assessed and taxed act9al ~
and exclusively used ana stt eallp and less
snch further deductions, not less lI ~
five per cent on their loans anu laoa u.7
counts to cover bad debts ana ulasaht11
ad interest as the General Asselhot1S1
NAV nrescribe. which deductions shaii
he made only from their surplus ana uii-
divided profits ,o+,r con,-
n.nfes and persons. firms and assocla-
lions engage in the insurance, pohains
and surety business, exclualns n9" $50 Ssg,'
fraternal insurance companies anu 90
cations shall be taxed on a percentase
OF their gross premiums received ,l u la.s
their business done in this State less
return premiums and reinsurance IN con-,
nanies or associations authorized 10 ~ 10
b,,si,ass In this State. The percentage
aforesaid shall not exceed three PEI a di no
for all branches OF insurance ~, ppiu, "a
and surety business, except a,d1 nnf er-
coed two per cent for life and industflaal
insurance. The special taxes TO as snpp ppae
the office Of fire marshal ana 9re p pted
vention bureaus shall not be deduGee ~
from the premiums hereby authorlzed, ~
be taxed When by the laws of any otner
State or country any taxes, nnes, pei n,.
alties. licenses, fees, deposits OF money
ar Of securities, or other obligations or
prohibitions are imposed on insuia o. p
bonding or surety companies Of this State
doing business in such othef sla a. " "
country or upon their agents therein !; 70
excess OF such taxes, penalties, ices, y
censes, deposits Of money, or OF se IL ~.
ties, or other obligations or prohlb1tllo. 70
imposed upon such insurance, bondtns
or surety companies of such other state
or country, so long as such laws continue
in force the same obligations and PROM
hitions Of 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
H.. doing business in this State.
Z. Irrigation canals shall be taxed OF
percentage not to exceed two per CEN
of their gross receints, only such real es'
tate and the buildings and structure!
thereon, rights of way, machinery, tools
and implements as are necessary to tht
operation of any canal shall be included
i'm and covered by this tax on gross re
ceipts All other real estate and persona
property Of the owner of any canal shal
In be locally assessed and taxed.
wv s. All sugar refineries, rice mills, cot
fineries and refineres of petroleum an
its products shall be assessed on the tai
market valuation.
3. Until otherwise provided by tn
General Assembly by vote Of two-third
of the members elected to each house, al
operating mines of sulphur, salt or othe
minerals all oil or gas wells all ston
quarries. sand gravel and shell pits sha
lie taxed npon a percentage of the gros
value of the product at the mouth g
the mine, well, quarry or pit This per
eentage shall not exceed five per cent 70
5rlphur; three per cent for salt: two an
nne-half per cent for oil and gas. an
two per cent for rock and other minerals
inclusive OF gravel. sand and shells Tlli
tax shall not apply to the nroduct of an
mines, auarries or pits or oil or gas wells
where the owner, other than public ser
vice corporations, uses the same for hi
personal purposes and does not sell tn
same or its products or manufacture til
same into another product for salt
Where gravel, sand or shells are take
from the beds of public waters or froT
shores not subject to private OWNERSHIP
the General Assembly may levy specis
taxes per cubic yard of material take
out and may lew a different specia1 ia
for each of said objects of taxation TT
Government Of the United States for an
purposes. and contractors engaged In IL
State or for the United States solely Il
the nurpose of such public work are ~
thorized to take free from taxatif
gravel, shell or sand from the beds
public waters and the public shores
the State. Every citizen of the Sta
shall have a similar right to take su,
materials for his own personal use fl
from taxation. unless they are taken f
sale. All real and personal property
the owners of such mines, wells, quarri
and pits EXCEPT machinery, tools and Ii
GRAFTON OF any mine. oil or gas well, sto
quarry. sand. gravel or shell pit, and e
cept the products themselves while
the hands Of the producer, shall be
ally assessed and taxed
TO- All real and personal property I
served for local taxation shall be assess
at such percentage not to exceed 100 7
cent of its fair market value as each
cal governing authority may establis
Pnd d lower percentage may be esta
iished for personal than for real prope,
III LOT tife gNaiueS OF improvements tn
for land values.
~. In all assessments Of real proper
whether for local or for State purpos
the value of the land shall be assess
senarately from the value of the inpro,
ments, but railroad pine line and ca
rights of way, whether held In fee or I
der easement. may be assessed separat
from. or together with the improveniH
thereon rs the Tax Commission N
deem most practicable.
u. Assessments shall be arranged e
graphically as far as possible either vi
the roll or upon separate records and
General Assembly shall mass laws y
viding for the printing and publication
r~rNnhet form Of the records show
such geagraphieally arranged assessrne
and for the sale of such pamphlets a
small price.
"a ySverv taxpayer shall have
Tf%lt nf testing the correctness of his
sessment in the courts within such Il
as the General Assembly nay nrescri
and no property shall be assessed fa
sum In excess of the percentage of
fair market value. as prescribed by
governing authority.
IA. State licenses and snecial 81
faxes shall be due and PAYABLE at S