Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1912-10-25

share.
2 A tax on the Organization Of do
excepting banks fraternai insurance
companies and building and loan OF
| homestead association. not TO excee
ten dollars fat. plus not to exceed one
lied capital stock and surplus. which taS
shall be levied upon increases OF capita
stock as well as upon original issues.
g. A tax on private CORPORATIONS, or
ganized for profit. for the privilege OF ex
| ercising corporate functions not 10 eN-
| coed twentieth Tof ore per cent pc
| annum on the outstanding capital STOCK
and surplus excluding banks. fraterna
and life insurance companies and bufd-
ing and loan or homestead associatinns
| no such tax 10 be less than i've dollars
On foreign corporations this tax shai
be levied on sucn proportions OF their
capital stock and surplus as Is used n
this State I'm intra-State business. II
lieu of the franchise tax on capital and
! surplus life insurance companies. foreign
and domestic. not including fraternal In
a flat fee of $4,000 plus $3.50 on each
$40 600 90 of premiums collected In Louis
lana during the preceding year.
T. The annual ad valorefn tax on all
automobiles and taxicabs. and also on
TRANSFORMATION OF persons or freight for
hire. with permission to the local govern
ment Of the residence OF the owner u
levy an annual license tax not to exceed
$500 One-half of the proceeds OF this
state tax collected from each owner shan
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
| cusively by such governing authority TO
the Improvement OF the public highways
within fits jurisdiction.
g. A tax on cotton future contracts.
in Hen Of all Licenses s, 20 future broker ,S
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. 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-ha 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
Of the tax to be paid, one-half by the
buyer and one-half by the seller.
T. A true, progressive Inheritance tax
for the beneft OF the General Fund, and
IN such tax IS levied all benehciaries shall
be divided into the following classes with
the following maximum exemptions. TOT
each class:
spouses, with an exemption OF $4,000 eacn'
except as to the widow, when the ex-
emption shall be $4,000. and except as -
children under the ages OF sixteen. wren
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-
G emption Of s., 900 to each root and daugn-
9 ters-in-law with an exemption OF $1,000
each.
Third, collateral relations Of the third
: degree, excluding nephews and nieees
!: and their representatives. with an ex-
: Fourth all other collateral relations
q within the sixth degree inclusive, with
g an exemption Of $3.50 each.
Il lations beyond the sixth degree. with an
y exemption of 800 each.
4 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 NTH class
. maximum rates to be attained when any
! inheritance, legacy. or donation exceeds
: half million dollars.
II And the minimum rates OF such ia,
! shall be one per cent for the first class
n two and one-half per cent for the second
i class three and three-fourths per cen
a for the third class. seven per cent Tor tn'
% the nth class. Whenever the rate o
a assessment levied against any inherit
e ance. legacy. or other Donation. when De,
ID OF other donation. would leave tn
/. beneficiary a smaller net amount thar
ID he would have received had the In
le into the next Lower class In the classi
e, 1cation according 20 amount OF act
, uai cash value, then the rate Of taxation
n shall be first calculated upon the maxi
n mum amount in said next lower class
} and the remaining amount OF the inherit
Or ance, legacy. or other donation shall D
taxed at the rate dxed for the highe
re class into which the inheritance. legacy
h or other donation falls
I'd Duplication OF inheritance taxes as be
es tween this State and other States, Tor
H. aha a n
ut the exemption Of corporal property be
~ longing 10 a decedent OF this State. an
IS situated outside Of this State, to the ex
OF tent OF any Inheritance tax OF such othe
or state; and by the exemption Of incor
poresi rights belonging to non-residen
IN decedents, such as shares OF stock
W evidences Of debt due by Louisiana debt
OF ors or bearing on Louisiana property, I
~ the same extent.
E. This tax shall also be applied to all 90
o. nations inter vivos, the donees TO be 81
ch yfded into the same classes hereinbefor
defined All donations inter vivos to I'll
same person within a period Of nve year
" shall be taxed as II together consdtu
az ting a single donation:
e Legacfes and donations inter vivos
ds educational, religious or charitable inst
Sc buttons, or to trustees for educational, re
ng iigious or charitable purposes, shall b
IN exempt from this tax, unless such dons
In ton. or legacy, shall be more than ma
Of the disposahls portion OF me tes as
ed the tax shall be imposed upon the entiI
". legacy or donation and the legatees
of donees shall be considered to be with
the third class. -.
o. s. Such other special taxes as ii
General Assembly by a vote OF two-thirc
ms OF all the members elected TO each hous
p may from time t to .ins ,I prescribe
Of 1 The General Assembly shall hay
ed power to levy license taxes only on pei
nd sons, partnerships. associations and col
on porations engaged in business or occups
&c lions that fall strictly under the oomal
Re, Of the police power. and for that purpo'
SIS to classify all such businesses and occ,
e pations. and to graduate the tax WITH
IT each class.
IFS :. Local subdivisions Of the State go'
10, eminent shall have the power TO leN
.er licenses on businesses and occupation
'or falling strictly within the domain OF q
ne police power as provided IN the foreg'
nj ing section for the State. save that SUE
n local licenses as may be levied on tran
ne in malt, vinous and alcoholic hduors sha
~ not be less than those levied by the sta
M nor less than those now or hereafter
by be prescribed by the General Assembly
TIC minimum local licenses.
g. Such local subdivisions as each ms
determine for Itself shall also have u
~, right TO levy license taxes. clasSined az
nj graduated with due respect to eQuali
rs, and uniformity within each class. on 9
We businesses and occupations not covers
nd by Sectidn of this Article; save and q
nI cept licenses on corpora tons. person
eal firms and associations whose property
De business Is among the sources Of reven'
IS reserved to the State. and save and e.
'ue cent licenses on individuals engaged
tie trades occupations and callings involvii
the personal labor or skin Of the pers.