Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1912-09-20

Il.
corporations not to exceed cents a
share.
2. A tax on the organization Of do
nestle corporations. organized for profit,
excepting banks. ffaternai insurance
companies, and building and loan OF
homestead association. not to exceed
ten dollars nat, plus not to 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.
=. A tax on private corporations, or
ganized 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, fraternal
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
q fiat fee of $4,000 plus 81 so on each
100000 Of premiums collected in Louis
lana during the preceding year.
T. 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
|
levy an annual license tax not to exceed
$500. One-half 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 ex-
clusively by such governing authority to
the improvement of the public highways
within fits jurisdiction.
5. A tax ON cotton future contracts,
IN Of a. IN ftrfra rlror.
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
6. tax on grain. coffee. rice and
sugar future contracts, in lieu Of all
than one and one-half per cent nor less
than one per cent on the commissions
paid on each transaction. Each unit con-
tract as established by the rules OF the
| respective exchanges shall be the basis
Of the tax, to be paid. one-hah by the
| buyer and one-half by the seller
z. A true, progressive Inheritance tax
| for the benef1t Of the General Fund. and
II such tax is levied all benehciaries shall
be divided into the following classes with
the following maximum exemptions for
1 each class:
First, ascencants. descendants, and
spouses, with an exemption of $1,000 each,
| except as to the widow, when the ex
| emption shall be $4,000. and except as TO
/
the exemption shall be $500 each. The
widows marital fourth shall be exempt.
| Second, collateral relations of the sec
ond degree, including nephews and
! nieces and their descendants when the
estate is divided by roots. with an ex-
emption Of 81. 900 to each root. and daugh-
ters-fn-law with an exemption Of $1,000
Third, collateral relations Of the third
/ degree, excluding nephews and nieces
and their representatives. with an ex-
Fourth. all other collateral relations
within the sixth degree inclusive, with
an exemption Of $3.50 each.
Fifth, strangers and all collateral re-
| lations 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
( 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
half million dollars.
/; And the minimum rates OF such tax
shall be one per. cent for the first class.
class, three and three-fourths per cent
for the third class. seven per cent for the
! fourth class. and thirteen per cent for
the fifth class Whenever the rate OF
assessment levied against any Inherit
ance. legacy. or other donation. when de-
Quoted from said Inheritance, legacy
or other donation, would leave the
- ls; 80. 49,, ~ eis e.
he,.,.non ,asacs, ~ 49, S.sat, sne s.,n
IT, az -, 49, a., az ,
ncstion accordinr 70 amount ~ act
,,e1 c.sh ,,sI,,n th.r ~. rats =, ta~.t,n-
sha,i hs erst csIc,,Istsd ,,,o, ths
s.aI . liz. u.as ~. usoi i nc ~, sr
mum amount IN SAID next iower GAS.
anca III issecv ~ other 49, t,er shaIs ~
faxed az the rate nxed for the hseher
class into which the Inheritance. legacy,
DunIicstion az ,nheritance tare. o.. h.
tu,eep This state ana other States Cor
60 ~ dor,asttr shaii Re ovotS.a ~,
ths a~er,rtfor, ~ 'cornora.I nrnre,tv ~,
iors,,S ~ decedent1 ~ th,s Ststs srd
tsnt ~ nv inharitance taT ~ s,,ch other
state: and nv the exemptfon IN incor-
ro-eoi -tsh.sT hsinrvs - 80, ,..tSe-.
5ocedsnts arch az sssres ~ stocS ~
Tso,,,stare rornora tons nots. hords- ~
as,Sencas ~ dcht d,,a nv T.o,,,sSens 49,
ors ar hesring ar f.ouis,ans nronertv 70
the sarne ertsnt -
T,b5s tsx she'll aiso n. an,I,.d e. IN A.
pafions inter vfvos tha doneas ~ he a.
vtded into fhe Same cIasses hersinbsfora
deemed All donations inter WINS to the
90 me nerson vvithir a ner.tod ~ Az. vasrs
shsn he tsxsd ss a. yto~ethor ~, ststns
ting a ssre1s 6ona t,on
Tegacges ssnd fions t,t.r v-svos n
edrca ffonal relieions o. cherIfah HE tnsti-
fufions or 10 trustees for ed,,ca tianal re-
ligious or charifahIe nnrnosee shaIi he
exannnt from this fax unless s,,ch dona-
tion or iseacv sbsI1 he more thar half
of the disposable portion Of the tesla
tors or donor's estate In which case
the tax shaII be frnposed ,,nor the entire
legacy or ,lonation and fhe leratees or
donees shali he considerad 10 he within
the third class
e.'tt A..