The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-12
-.,.,oeo prof,ts less the as

eesseaa and taxed, and Tess SUI sueAt ,,er cent
ss ssat o. not less tnat i ~ caver bad
/ ID theiF Sa.,nearned interest as tne Isn-
Ssbts anu.t,Jy may prescribe, Whlch ue
ssi AsssnI.1S he made only from lheiL
auctionl md undivided profits; an eaA Is
surplus Maid by the banks ana c'4sli SCI
2 o. ~ sstockholders. ,,ors banking firms
lnol arnnrated banking associations;
and unls,o4I- This; State shall be assessed
donielleua Mount :, of capital; surplus ana
Oh t ne ai' profits actually enpiosea "a
lnai. r in,,sness, less the assesseu |a taVed
their a oaats locally assessed ana taa sn
actually - I'll their business, and less sucn
pioyed ~ saoanctions not less than flVe per
further their loans and discounts ~
& cent ~ ia debts and unearned interest," %
4 e eea General Assembly may INV from
Y vhich a .s,,,,,s and undivided profits.
ihsr su.p hanks and individual BANK,
fni,ing firms and unlncorporated
ers, "a, san assecia lions, domiciled out OF the
banhiASb mt doing business IN tnls olates
Ell ssaii be assessed on sucn piopo ns sl
thef r.. c ~ Is actually employed in this
pronts ,a e. the assessed value OF real es-
4 state, . is1 assessed and taxed, actually
tate i AosaIus,yely used and emt1oyed IN
ana hnsiness in this State, ana less
NH further deductlons', ~. 80 lie
sacs mar cent on their loans ana dis-
i've pet - coyer bad debts anu unearn-
COUNT ii.s.erest as the General Assembly
20 ~ rasrascribe. which deductions snail
nsy Node ONLY from their surplus' anu I'M
Myided profits s,,a+y com
insurance, bonding ana suieas eo;t
s,.s and persons, firms ana assocla-
p sLas engaged in the insurance, bonding
Do,is .,raty business, excluding however,
sn Nat.s nc insurance companies and assoc
lsatfans, shall be taxed on a percentage
e e their gross premiums received upon
Il thetr business done IN TINS otat s, less
. latnrn premiums and reinsurance IN com
ts. ..ae or associations authorized to do
paalss in this State. The percentage
o ptssrasasd shall not exceed three per cent
~ ali branches of insurance, bonding
md surety business, except NE ana
l aHaa tan ner cent for life and industrial
t sssnra inc, nee. The special taxes 70 support
nfice of fire marshal and fire pre-
s ~ bureaus shall not be deducted
ssana fhe premiums hereby authorized to
4 X KITE taxed. When by the laws Of any other
s,ties licenses fees, deposits of money
y NJ securities, or other obligations or
p ~ Ire imposed on insurance,
ppaniing or forety companies Of this State
soIng bust IS in such other State or
country, or-lpon their agents therein !, IN
esnses. deposits of money, or of securf-
liz Or other obligations or prohibitions
imnosed upon such insurance, bonding
ar surety companies Of such other State
If country, so long as such laws continue
IN force the same obligations and prohi-
hitions of whatsoever kind may be inn
nnsad by the General Assembly OF this
I gtafe upon insurance, bonding or surety
companies Of such other State or country
doing business In this State.
4 Irrigation canals shall be taxed on
percentage not to exceed two per cent
{ tate and the buildings and structures
thereon rights Of way, machinery. tools
and implements as are necessary to the
operation Of any canal shall be included
in and covered by this tax on gross re-
reipts, All other real estate and personal
property of the owner OF any canal shall
be locally assessed and taxed.
&, All sugar refineries, rice mills, cot
ton seed oil mills, cotton seed OIL re-
fineries and refineries of petroleum and
its products shall be assessed on the fair
market valuation.
8, Until otherwise provided by the
General Assembly by vote Of two thirds
of the members elected to each house. all
= operating mines Of sulphur, salt or other
minerals all oil or gas wells, all stone
quarries. sand, gravel and shell pits shall
be taxed upon percentage of the gross
value Of the product at the mouth OF
The mine, we'll quarry or pit. This per-
eentaga shall not exceed five per cent for
sulphur: three per cent for salt; two and
one-half per cent for OIL and gas, and
I've per cent for rock and other minerals,
inclusive Of gravel, sand and shells. This
tax shall not apply to the product OF any
mines, auarrfes or pits or oil or gas wells,
where the owner, other than public SER
vice corpora tons, uses the same for his
personal purposes and does not sell the
yarn It,, &r. f. IL
same into another product for sale.
Where gravel sand or shells are taken
from the beds Of public waters or from
shores not subject to private ownership,
fhe General Assembly may levy special
taxes per cubic yard Of material taken
for each OF said objects of taxation. The
Government OF the United States for any
PURPOSES and contractors engaged In the
construction Of any public work for the
s ~ Or for the United States solely for
t ne purpose OF such public work are au-
grayel shell or sand from the beds Of
public waters and the public shores Of
fhe State Every citizen of the State
snali nave similar right to take such
tt, aat Ior his own personal use free
from taxation, unless they are taken for
sale All real and personal property Of
aae owners OF such mines, wells, guarries
4 . ana Plus except machinery, tools and i'm
PIGMENTS absolutely essential to the on
e,a,aon OF any mine. oil or gas well, stone
au w. sand, gravel or shell pit and ex-
t tsp ~, sne products themselves while in
. . me hands Of the producer, shall be To-
any assessed and taxed.
.a. ", 81 real and personal property re-
s 81 we'd for local taxation shall be assessed
~ sucii percentage not to exceed 100 Der
s j., o. It's fair market value as" each To-
w governing authority may establish.
i a.h : lower percentage may be estab-
~ i.sh ~ lot ersonal than for real property
lof land V. les.
rh ha IN al assessments Of real property
fba e. lla foii local or sfor State purposes,
+ sanas nalue q the land shall be assessed
rnam.s dleiy from the value of the Improve
rashts out railroad. pine line and canal
Al ,ss'e y 81 way, whether held in fee or un-
from. easement =. may he assessed separately
theraopri sosether with, the improvements
da seseon as the Tax Commission NAV
u III most practicable.
granh,a assessments shall be arranged geo
ths e rnn as far as possible either ,1non
f,era ~, " upon separate records and the
yidta asat !. assembly shall mass laws pro
pa,n ,,I iof me printing and publication in
4sI,nh aaa,. loIna or the records. showing
ana ~, III H. 'pIilGally arranged assessments
small price. u sueh pamphiets at a
rig n /, saverY taxN>~er shall have the
sa sts ~ testing the correctness Of HIS as
as ~ :, IN the courts within such time
Ana a ~. General Assembly NAV nrescrihe.
Z su pr ~ l., property shall be assessed for a
fair n ~ r s.seess Of the percentage of its
so1htefning authority, ''u ~ ''ie
A tases s hsa1e licenses and snecfal State
t,n,e snaii be due and PAYABLE AZ e,1nb
snrss as the General Assembly NAV nrel