St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-10-19

q except @ may hereafter be direct
q By vote Of two thirds Of all the
nsmbers elected to each House of
the General Assembly, shall be
sources Of local taxation.
q ARTICLE III.
The General Assembly shall have
power to levy for State purposes the
following special taxes:
M /. A tax on the transfer Of stocks
n corporations not to exceed 2 cents
Q share. 80
:. A tax ON the organization Of
domestic corporations, organized for
pront, excepting banks, fraternal in
suranco companies, and building and
loan or Homestead association. not
e. exceed ten dollars fiat, plus not
70 exceed one-twentieth of one per
cent Of the authorized capital stock
and surplus which tax shall be levied
upon increases Of capital stock as
we'll % upon original issues.
g.. A tax ON private corporations,
organised for profit, for the privilege
Of exercising corporate functions,
not to exceed one-twentieth OF one
per cent per ennum on the outstand-
Ing capital stock and surplus, ex-
eluding banks, frateruAl and life IN
eurance companies and building ana
loan or homestead associations; no
such tax to DO less than five dollars.
On foreign corporations TINS taA
shall be levied on such proportions
Of their capital stock and surplus as
10 used in this State In intra-state
business. In lieu of the FRANCHISE taA
on capital and surplus, life 1nsur-
anco companies, foreign and domes-
tic. not including fraterna! insurance
associations, shall pay annually ma.
fee Of $4,000 plus $3.50 on eacn
$40, 10000 Of premiums collected IN
Louisiana during the preceding
year.
I. An annual I'D valorem tax on
Ill automobiles and taxicabs, ana al
20 ON al other auto-drtveh venlcles
used for tran portation OF p SONS
Or freight for hire, VITA permlsslo.n
to the local government OF the resl,
dence Of the owner to levy an annual
license tax not to exceed $5.oO. one
half Of the proceeds OF TINS otaSs
tar collected from each owner snaN
70 to the state good roads 1unas'
the remaining moiety OF sucn ta1
shall be paid over by the state ~
the governing authority OF the locail-
ty from which the machine Is regis
tered, to be devoted exclusively W
such governing authority to the M
provement Of the public highways
v3fhin ita Jurisdiction.
8. A tar ON cotton future contracts
in lieu Of Ill licenses to future Drok-
era. Of not more than fifteen nor less
than ten cents on each purchase anu
sale OF each 100 bales, to be palo
on each transaction, one-haf Dy tAe
buyer and one-half by the seller.
s. A tax On grain, conee. rice
and sugar future contracts. In lieu Oh
an lcensee to future brokers, OF not
more than one and one-half per cent
nor less than one per cent on the
commisions paid on each TRANSACTION
Each unit contract Is established py
fhe rulea of the respective exchanges
shall he the basis OF the tax, to De
paid. one-half by the buyer ana one
half by the seller. ,x-,
Z. A true, progressive 1nnerl-
lance - ZOE sue . u"I tax "a levied
era. suna, .Iu - .h S ha divided in
III pens uMuG,s. e,sss.s With the fol-
lowing maximum exemptlons Ao'
each class:
First-ascendants, descendants;
and. sDouses, with an exemption -
$4,000. each, except rs to the wlao~'
when the exemption shall De %oovv,
s s.u e s;r+.er when the exemption
~. I'm " eESnn each The widows
s. ..s..I rcrr+h .hall he exempt.
s.eo,1 ro1latAral relations =. of
49, .SoonA Sa.ree Including nephews
s.s r;scs. snd their descendants
~ ~ ~ 49, ..t.te IN divided by roots,
w w :. .vnmnttnn of $1,000 to each
49,. w.s ia S.m~hters-in-law with an
49,. H ~ e 400 each.
ThtrdMco,lstaraI relations of the
.si.a sa.~ee arclnd,ne nephews and
49,. ana fhair representatives,
LIZ, .r aremntion Of $500 each.
Ta,rthAii other collateral re-
,.4sa... -r,.,,ir the sixth degree in
. n,..S,.s -sth an exemntion Of $3.50
S.s .s wa.
M,.4h s.r.coer. and all collater-
.1s.,... havcnd the sfxth degree.
~ ~ ie' -. x.,rn+ lon ~ 500 each.
WIZ Mhs s ms~;nnrn rata ~ the proxres-
-. - sh.m M exceed airht per
~ - 81. a-st c1ass twelve per
c cen. 81 ~. .h tae .acn,a cio.s sixtecn per
~. ~ III ~. ~. est.S cisss twhntv-five
n.r cent for the fourth class, and
th;r+v nor cent Tor the fifth class,