The herald., 1912-09-19
Article VI.

After January LIST, 1914, all as
seSsments for all State purposes, eN-
cept as hereinafter provided, Shaii n
Completed on or before April l ISL III
each year, and the taxes SHAH pecoiie
due and payable on the nrst M NO t
in June of each year, ana snah pe
come delinquent on the nrs racb mar
in September in each year, Eacn pa pa
ish and municipality shali nave tne
right to fix the date. Tor tne colhp
| tion of it's local assessments anu tne
navment of its local taxes ana ilcehses
General and special. until otherWilse
Prescribed by the General AsseinpIy'
| Until otherwise provided, eNlstlns "a i,a
on these subjects shall pe ops, con.
| wee district taxes and forced con-
tributions, exclusive of produce IaH S;,'
shall be assessed and become ueIii
ouent coincidentally with parish laAeS II
| Public service corporations shaii
| no assessed on their physical proper!
and on their franchises separately, pu'
the General Assembly shall nave PoT
| er to direct the Tax Commlssion %
| assess the property of such corpplash
lions at a valuation including pom
| physical property and franchises " w,
| determined by gross recelpts, VI
| dividends on stocks ana ihteleSt I'll
| on bonded debt, or by any other a'ali-
| able method.
2 Incorporated banks shall be as
| saSsed nv assessing the stockholders OH
the book value of the stock, !: e. caPss
tai stock, surplus ana unai W real es
us; ie 1ocaiIv assessed and taxed, and
less such further deductions OF not ie ,sS
than five per cent on their Ioans all az
discounts to cover bad debts ana un
| earned interest as the General AS
| sembly may prescribe, Whlch ueuuJ
| ton shall be made only from tneli
surplus and UNDIVIDED prontsdi charged
to be paid by the banks anu chai eS0
to the stockholders.
4. Individual bankers. banking firms
and unincorporated banking associa
TONS domiciled in this state, snail Dc
assessed on the amount OF capital, sur
Mus and undivided profits actually en-
nloyed in their business, less tne as
sessed value of real estate Locally as
sessed and taxed, actually ana eSclu
sively used and employed IN their Dus s
ness and less such further dedtction'
not less than five per cent on tnei
loans and discounts to cover pad depl'
and unearned interest as the 1en Genera
Assembly may prescribe. when oeuuc
ton shall be made only from their sur
plus and undivided pronts.
5. Foreign banks, and lndlvldua
bankers, banking firms ana unlncor
porated banking associations, doihlche'
, out of the state but doing business II
this State, shall be assessed on sue
proportion of their capital, surplus an
undivided profits as is actually EN-
! ployed in this State, less the assesses
value of real estate locally assesse
and taxed actually and exclusively use
and employed in their business In Uni
n state. and less SuCn luTlheI uSNeN
: tions, not less than five per cent o
: their loans and discounts, to cover pa
debts and unearned interest as IN
4 General Assembly may prescribe, whlc
: deductions shall be made only troi
2 their surplus and undivided pronts.
I s. Insurance. bonding and suret
= companies, and persons, firms ana as
= | sociations engaged in the 1nsurahc,
= bonding and surety business, eNcluc
= ing, however. fraternal insurance con
NAMES and associations, snail De take
n on a percentage of their gross prem
q lums received upon their business dor
in this State, less return premium
. and reinsurance in companies or assS
: Citations authorized to do business
a this State. The percentage a1oresa
. shall not exceed three per cent 1or
e branches of insurance, bondlng al
= surety business, except life and lndu
g trial insurance and shall not excet
:, two per cent for life and Industrial II
: surance The special taxes TO suppo
n the office of fire marshal and hre pr
yention bureaus shall not be deduct'
- from the premiums hereby authorlz'
~ 70 he taxed. When by the laws or al
- other state or country any taxes, me
nenalties. licenses, fees, deposits
Is money or of securities. or other oblig
= tions or prohibitions are imposed
>, Insurance bonding or surety compani
70 OF this State doing business In su
- other state or country. or upon tnt
I'd agents therein in excess OF such TAX
~ | penalties. fees, licenses, deposits
or money. or of securities. or other oolle
- itions mr. urohfbftiOns imposed upon So