The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-09-12

GLIDING bonding and surety companies,
foreign or domestic, and all persons
and partnerships engaged in lnsur-
ing persons or property, save that
ali the real estate and cOrporeal
property of such companies, persons
Or partnerships shall be locally as
sessed and taxed.
9Th. All sugar refineries, rice mills,
cotton seed oil mills, cotton seed OIL
refineries and refinerieS of petroleum
and its products. A sugar refinery
is hereby defined to be concern
that buys and refines raw sugar ex-
ciusiyely, or a concern that buys and
refines more raw sugar than the az
gregate Of the sugar produced by 1t
from cane grown and purchased by
it.
9Th. All mines OF sulphur, salt or
other minerals, all oil Or gas wells.
all stone quarries, sand, gravel and
shell pits.
8. Only the operative property OF
state sources of revenue shall be
segregated to the State. The Gener'
a. Assembly shall define, in man
ner not inconsistent with any pro-
visions of this amendment what the !,
operative property of each sucn
source is. Real estate and the I'M
proyements thereon forming part OF
any railroad terminal, depot or yard
or warehouse or shop, acquired AFTER
July /, 1872 even though it may form
part of the operative property OF any
: railroad, shall not be considered
j. source of state revenue except Dy
+ constitutional amendment unless
such property had been, prior to said
date, part of railroad terminal, de-
e not. yard, warehouse or shop.
f 4. All other property subject %
|. taxation, except as herein specified,
or except as may hereafter be direct
ed by a vote of two-thirds of all the
Il members elected to each house OF the
# General Assembly, shall be sources
v of local taxation.
s Article III.
II The General Assembly shall have
6. power to levy for State purposes the
- following special taxes:
&c / A tax on the transfer OF STOCKS
2, in corporations not to exceed z cents
share.
2. A tax on the organization OF
domestic corporations, organized for
4 profit, excepting banks, fraternal IN
D. surance companies, and building ana
loan or homestead associations, not
ha to exceed ten dollars flat, plus not
to exceed one-twentieth OF one per
III cent of the authorized capital stock
re and surplus, which tax shall be lev
MS led upon increases of capital stock
oh as we'll as upon original issues.
w 8. A tax on private corporations,
20. organized for profit, for the privilege
ol of exercising corporate functions, not
To- to exceed One1wentieth of one per
or cent per annum on the outstanding
us capital stock and surplus, excluding
mt banks, fraternal and life insurance
companies and building and loan Of
lot homestead associations; no such tai
er' to be less than five dollars. On for
De' eign corporations this tax shall b<
ats levied on such proportions of theil
lm' capital stock and surplus as Is uset
Inr in this State in intra'state business
Inc In lieu of the franchise tax on capt
en- Gu tai and surplus. life insurance com
We; panies, foreign and domestic, not IN
a.! GLIDING fraternal insurance ass0cta
lali tons, shall pay annually q flat fee
t0e $4,000 plus $3.50 on each 100000
col' of premiums collected in L0uisian
ECU during the preceding year.
ca 1. An annual ad val0rem tax O
ali automobiles and taxicabs, and q
ave 60 on all other auto-driven vehicle
Tax. used for Transportation Of persons q
Hes freight for hire. with permission {
but the local government Of the re-
Iual dence Of the owner to levy On annu,
the license tax not to exceed $500. ON
rial half of the proceeds Of this Sta@
the tax collected from each owner sha
be 60 to the State good roads funds
the the remaining moiety Of such Il
lev. shall be paid over BY the State I
the governing authority Of the local
IVA ty from which the machine IL req
Zen. tered, to be devoted exclusively b
wer such governing authority to the II
tax provement OF the public highway
the within its Jurisdiction.
ICED 5. A tax on cotton future CO.
ent. tracts, in lieu Of all licenses to g
all ture brokers. of not more than q
use teen nor less than ten cents q
each purchase and sale Of each II
bales, to be paid on each transal
ocal ton. one.half by the buyer and on
ex- half by the seller.
as 6. A tax on grain, coffee, RI
y q and sugar future contracts, in lieu [
oers all licenses to future brokers. Of n
ner' more than one and one-half per Gel
rity nor less than one per cent on Ia
its commissions paid on each transal
rein ton. Each unit contract az estal
lished by the rules Of the RESPECTIVE
Y a exchanges shall be the basis Of Ii
EN- tax, to be paid. one-half by the bu!
the er and one-half by the seller.
ring Z. A true. progressive inheritanc
eve tax for the benefit of the Geners
Fund. and il snch q tax is levied q
fter beneficiaries shall be divided Int
the following maximum exemption
per- for each class:
ons First, ascendants, descendants, an
un- spouses, with an exemption Of 5000
Dad each, except as to the widow. whe
rail- the exemption shall be $4,000, and "a
and cept as to children under the age q
,ss sixteen. when the EXEMPTION shall