The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-08-31

State; steamboat, motor boat, steamsbfn
ferry, barge, and tug, or other rya taS
4 craft, where operated foF hire, canal for
/ transportation or Irrigation and pine line
! for oil or gas When the elenfric 11i .s hT
and power business conducted Il, 7con-
function with any street railroad car ha
4 practically severed from the street rail-
road business for purposes Of assessment
/ then such severance shall be ma 4 ~ ~
the Tax Commission and such electric
light and power business shall NOT ba q
source of State Eevenue.
3rd All banks, sfateSsand National.
including savings banks, trust banks and
trust companies, and all private bankers.
4 whether individuals or partnerships. savn
that the real estate OF all banks and
bankers shall be locally assessed ard
| estate of banks and bankers SHAH he
equaiized annually by the Tax Comn4ts-
/ sion to the basis established and ii yoe,Ia
in each locality where such real estate
| is located. = = d
! 4th. All insurance companies inc,,,d-
| Ing bonding and surety companies, for
feign or domestic, and all persons ana
partnerships engaged in insuring persons
or property, save that ali the real esfats
and corporal property ofzsuch COMPANIES,
persons or partnerships shall be locally
assessed and taxed. 5#ss
| 9Th. All sugar refneries, rice mills
cotton seed oil mills, cotton seed oil "a.
fneries and refneries Of petroleum and
Its products. A sugar refinery is hereby
defined to be a concern that buys and re-
| fines raw sugar exclusively, or a concern
that buys and refines more raw sugar
than the aggregate Of the sugar produced
by it from cane grown and purchased BY
it. - A 49,
sth. All mines OF sulphur, salt or other
minerals, all OIL or gas wells, all stone
quarries. sand, gravel and shell pits.
3. Only the operative Property of State
sources of revenue shall be segregated Ia
the State. The General Assembly shall
define, in a manner not inconsistent with
any provisions of this amendment what
the operative property OF each such
ments thereon forming part Of any rail-
road terminal, depot or yard or ware
house or shop, acquired after July 1.%
1912, even though it may form part Of
shall not be considered a source Of State
revenue except by constitutional amend
ment unless such property had BEEN
prior to said date, part Of railroad ter
mfnal, depot, yard, warehouse or shop.
4. All other property subject to taxa
ton, except as herein specified, or except
as may hereafter be directed by vote
OF twozthirds of all the e, 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:
l. tax on the transfer Of stocks in
corporations not to exceed 2 cents
share.
O. A tax on the organization of do
nestle corporations, organized for profit,
excepting banks. aternal insurance
companies, and building and loan or
homestead association. not to exceed
ten dollars fiat, plus MOTTO exceed one-
twentieth of one per cent of the author
lied capital stock and surplus, which tax
shall be levied upon increases of capital
stock as well as upon original issues
t9x nriUat
gained 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 shall
be levied on such proportions OF their
capital stock and surplus as is used in
this State in intra State business. In
lieu of the franchise tax on capital and
surplus, life insurance companies foreign
and domestic, not including fraternal In
surance associations, shall pay annually
a fiat fee Of $4,000 plus $3.50 on each
SO, oOoo 90 Of premiums collected in Louis
lana during the preceding year.
4. The annual ad valorern tax on all
automobiles and taxicabs, and also on
all other auto driven vehicles used for
hire, with permission to the local govern
ment OF the residence Of the owner To
levy an annual license tax not to exceed
$500. one-ha 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 Aex-
clusively by such governing authority to
the improvement of the public highways
within it's jurisdiction.
5. A tax on cotton future contracts,
licensees n riff hrnL aN@
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-half by the buyer and one
half by the seller.
s. A tax on grain, coffee. rice and
sugar future contracts: in lieu of all
licenses to future brokers, Of not more
than one and one-half per cent nor less
than one per cent on the commissions
paid on each transaction. Each unit COM
tract as established by the rules OF the
respective exchanges shall be the basis
of the tax. to be paid, one-ha1f by the
buyer and one half by the seller.
Z. A true, progressive inheritance tax
for the benefit Of the General Fund, and
be divided into the following classes with
the following maximum exemptions for
each class:
First, ascendants, descendants, and
except as to the widow. when the ex-
emption shall be $1,000, and except as to
children under the ages of sixteen. when
the exemption shall be $4,000 each. Tho
widows. marital fourth shall be exempt.
Second, collateral relations of the sec-ss
ond degree, including nephews and
nfeces 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 ST 900
each.
Third, collateral relations OF the third
degree, excluding nephews and niecea
and their representatives, with an ex-
emption of $500 each.
Fourth. all other collateral relations
within the sixth degree inclusive. with
an exemption of $3.50 each.
Fifth, strangers and all collateral re-
1atfons beyond the sixth degree, with an
exemption of 500 each
The maximum rate OF the progressive
tax shall not exceed eight per cent for the
first class, twelve per cent for the second
class, sixteen per cent for the third class,
twenty-five 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 exceeds
a half million dollars.
And the minimum rates of such tag
shall be one per cent for the first class,
two and one-h half 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