The Natchitoches enterprise., 1912-10-17

!. A tax on the transfer Of stocks in
corporations not to exceed 2 cents
share.
@ A tax on the organization of do
nestle CORPORATIONS, organized for profit,
excepting banks fTaternal insurance
companies, and building and loan or
homestead association. not TO eXceed
ten dollars fiat, plus not to exceed one
twentieth of one per cent of the author
lied capital stock and surplus, which tax
shall be levied upon increases OF capita
stock as well as upon original issues.
g. A tax on private corporations or
sanfZed 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 capltai STOCK
and surplus, excluding banks. fratern;''
and life insurance comnantes and build
ing and loan or homestead aSsociatlonS'
no such tax to be less than hVe dollars
On foreign corporations this tax sha.
be levied on such proportions OF their
capital stock and surplus a 5 is used IN
this State in intra-Sta business; In
lieu of the franchise tax on capital ana
surplus life insurance companies. foreign
and domestic, not including fraternal in
slrance associations, shall nav annually
fiat fee of $4,000 plus 50 30 on each
$40, 600. 90 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 aute-driven vehicles used for
ira Importation of persons or freight tof
hire. with permission to the local govern
ment of the residence of the owner to
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
remaining moiety Of such tax shall be
paid over by the State to the governing
authority of the locality from which the
machine is registered, to be devoted eX-
cIlsivelv by such governing authority to
the improvement of the public highways
within its jurisdiction.
s. A tax on cotton future contracts,
in lieu of all licenses to future brokers,
of not more than fifteen nor less than
ten cents on each purchase and sale OF
each 100 bales. to be paid on each trans
action. one-h half by the buyer and one
half by the seller
sugar future contracts, in lieu Of all
licenses to future brokers, of not more
than one and ene-half per cent nor less
than one per cent on the commissions
paid on each transaction Each unit con-
tract as established by the rules OF the
respective exchanges shall be the basis
of the tax, to be paid. one-half by the
buyer and one-haIf by the seller.
I. A true. progressive Inheritance tax
for the benefit of the General Fund, and
If such tax is levied all benefciarfes snail
be divided into the following classes win
the following maximum exemptions TOT
each class:
First. ascendants, descendants, and
spouses with an exemption OF $4,000 each'
eXcept as to the widow, when the ex-
emption shall be $4,000. and except as 10
children under the ages Of sixteen, when
the exemption shall be $4,000 each. The
widows marital fourth shall be exempt.
Second. collateral relations OF the sec.
ond degree, including nephews and
nieces and their descendants when the
estate is divided by roots, with an eX-
emption of 81 900 to each root, and daugh-
ters-in-law with an exemption OF $1,000
Third. collateral relations of the third
degree. excluding nephews and nleces
and their representatives, with an eX-
Fourth. ali other collateral relations
within the sixth degree inclusive, with
an exemption of $3.50 each
Fifth strangers and all collateral re-
lations beyond the sixth degree, with an
exemption of $10e each.
The maximum rate of the progressive
tax shall not exceed eight per cent for the
first class, twelve per cent for the secono
twenty-fi per cent for the fourth class,
and thirty per cent for the fifth class
maximum rates to be attained when any
inheritance, legacy, or DONATION eXceeos
a half million dollars.
And the minimum rates of such tax
shall be one per cent for the flrst class,
two and one-haIf per cent for the second
class, three and three-fourths per cent
for the third class, seven per cent for the
fourth class, and thirteen per cent for
the fifth class. Whenever the rate OF
assessment levied against any inherit
ance. legacy. or other donation, when de-
Quoted from said inheritance, Legacy
or other donation, would leave the
beneficiary a smaller net amount thar
he would have received had the IN
heritance. legacy or ether donation faller
into the next lower class in the CLASH
fcation according to amount Of act
ual cash value, then the rate Of taxation
shall be first calculated upon the maxi
, mum amount in said next lower class
> = w
ance legacy, or other donation shall be
taxed at the rate fixed for the higher
class into which the inheritance, legacy.
or other donation falls.
tween this State and other States, for
eign and domestic, shall be avoided by
the exemption of corporal property be-
longing to a decedent of this State, and
situated outside of this State, to the ex-
tent of any inheritance tax of such other
State: and by the exemption of incor-
pereal rights belonging to nonresident
decedents, such as shares of stock fn
Louisiana corporations, notes, bonds, and
evidences of debt due by Louisiana debt
ors or bearing on Louisiana property, to
the same extent.
This tax shall also be applied to all do
nations inter vivos, the donees to be a.
vjded into the same classes hereinbefore
defined. All donations inter vivos to the
same person within period Of five years
shall be taxed as IL together constitu-
ting a single donation.
Legacfes and donations inter vivos TO
educational, religious or charitable tnst1-
tutions, or to trustees for educat ens RE Be-
exempt from this tax, unless such dona-
ton, or legacy, shall be more than half
of the disposable portion of the tesla
tors or donors estate, In Wh1ch case
the tax shall be imposed upon the entire
legacy or donation and the legatees or
donees shall be considered to be within
the third class.
s. Such other special taxes as the
General Assembly by a vote Of two-t thirds
of all the members elected to each house
may from time to time prescribe.
Article w
1. The General Assembly shall have
power to levy license taxes only on per
sons, partnerships associations and cor
porations engaged in business or occupa-
lions that fall strictly under the domain
to classify ali such businesses and occu-
pations, and to graduate the tax within
each class
2. Local subdivisions Of the State gov
eminent shall have the power to levy
licenses on businesses and occupations
falling strictly within the domain of the
police power as provided in the forego-
ing section for the State, save that such
local licenses as may be levied on traffic
in malt, vinous and alcoholic liquors shall
not be less than these levied by the State
nor less than those now or hereafter to
be prescribed by the General Assembly as
minimum local licenses.
g. Such local subdivisions as each may
determine for itself shall also have the
right to levy license taxes, classified and
graduated with due respect to equality
and uniformity within each class, on all
businesses and occupations not covered
by Section of this Article: save and ex-
cept licenses on corpora lions, persons,
firms and associations whose property or
business is among the sources of revenue
reserved to the State, and save and ex-
cept licenses on individuals engaged in
trades, occupations and callings involving
the personal labor or skill of the person
to be taxed, and not falling within the
domain of the police power; and save and
except corporations, associa lions, part
nerships or individuals engaged in manu-
featuring or industrial pursuits whose
capital stock, or capital in business, is
less than FIVE thousand dollars, and not
falling within the domain of the police
power: and save and except persons,
firms and corporations engaged In agri-