The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-10-05

transportation OF lTIlkdttOIl, anu PipC ht~
for oil or gas When the electric light
and power business conducted in con-
junction with any street railroad can pc
practically severed rom the street Ian
then such severance shall be made py
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 ana
trust companies. and all private bankers,
that the real estate of all banks ana
bankers shall be locally assessed ana
taxed The assessments of the real
estate of banks and bankers shall be
eaualized annually by the Tax Commits
sion to the basis established and in vogue
in each locality where such real estate
4th All insurance companies includ-
ing bonding and surety companies, for
eign or domestic, and all persons ana
partnerships engaged in insuring persons
and corporeal property of such companies,
persons or partnerships shall be locally
assessed and taxed.
cotton seed oil mills, cotton seed oil re-
fineries and refineries of petroleum and
Its products. sugar refinery Is hereby
defined to be a concern that buys and re-
fines raw sugar exclusively. or a concern
that buys and refines sugar
than the aggregate of the sugar produced
by 1t from cane grown and purchased by
sth 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 General Assembly shall
define. in manner not inconsistent with
the operative property of each such
source is. Real estate and the improve
ments thereon forming part Ct any rail-
| road terminal, depot or yard or ware
| horse or shop. ACQUIRED after July /.
1912. even though 1t may form part Of
| the operative pronertv OF any railroad
shall not be considered a source OF State
revenue except by constitutional amend
ment. unless such property had been,
nrior to said date. part of railroad ter
minal. depot. yard, warehouse or shop
| 4. All other property subject to taxa
ton. except as herein snecified. or exceDt
as may hereafter be directed by vote
of two-thirds Of all the members elected
TO each house Of the General Assembly.
shall be sources Of local taxation.
Article III.
The General Assembly shall have power
to levy for State purposes the following
| special taxes:
corporations not to exceed cents
share
2. tax on the organization Of do
nestle corporations. organized for pront.
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 autn or
shall be levied upon increases OF capitab
stock as well as upon original issues.
g. tax on private corporations. or
eanized 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 capital stock
and surplus, excluding banks. fraternai
and life insurance companies and build
ing and loan or homestead associations,
| no such tax to be less than five dollars
On foreign corporations this tax. SHAH
| be levied on such proportions of their
capital stock and surplus as IL used IN
this State in intra-State business. In
lieu of the franchise tax on capital ana
surplus life insurance companies foreign
and domestic, not including fraternal In
surance associations. shall pay annually
fat fee Of $4,000 plus $50 on s each
lana during the preceding year.
4. The annual ad valorem tax on all
automobiles and taxicabs.. and also on
| all other auto-driven vehicles used for
| transportation OF persons or freight FOR
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 10 the State good roads funds: the
paid over by the State to the governing
authority Of the locality from which the
machine Is registered, to be devoted ex-
CluSlVeiy DIV SOcu kONeTulUS dutuofity ~
the Improvement OF the public highways
within its jurisdiction.
5. tax on cotton future contracts,
in lieu Of all licenses to future brokers.
ten cents on each purchase and sale OF
each 100 bales. to be paid on each trans
action. one-han by the buyer and one
6. A tax on grain. coffee. rice and
e | sugar future contracts. In lieu OF all
g licenses to future brokers' Of not more
than one rer cent on the commissions
: paid on each transaction. Each unit con-
!. tract as established by the rules Of the
d respective exchanges shall be the basis
: of the tex. to be paid, one-half by the
u buver and one-ha]f by the seller.
o T. true. progressive Inheritance tan
Ii II such tax Is levied all hene6ciaries shall
v Re divided into the following classes with
u the following maximum exemptions fol
First. ascendants descens.nts.. and
: snouses. with an exemption Of $4,000 each
j. excert as tn the widow. when the ex-
emrtion shsll be $4,000. snd eyc"nt q T.
l. the exemption shall he $500 each. Thu
: Widows marital fourth shall he EXEMPT
u Second. collateral relations 81 the sec
N rieces and their descendants when thu
l. estate Is divided by roots. with an ex
al emption Of 81 roo to each root. and dough
l. terc-in-law with exemption of 100
TO each.
Tnird collateral relations Of the thir'
,e decree. excluding nephews end niece
8 and their representatives. with an ex
ID enrntion Of $500 each.
l. Fourth. all other collateral relation
I'd within the sixth degree inclusive, wit
s. an evemption Of $3.50 each
ne Fifth. strangers and all collateral re
e. iaticns beyond the sixth degree. with al
b. exemption Of 500 each
n The maximum rate Of the progressiv
In tax shall not exceed eight per cent for tn
o. nrst class, twelve per cent for the secon
er class. sixteen per cent for the third class
twenty five per cent for the fourth class
We and thirty per cent for the fifth class
a. maximum rates to be attained when an
nd Inheritance. legacv, or donation exceed
es a half million dollars.
On And the minimum rates Of such tn