The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-09-07

GIdlI, W1GT6 @oDGTaLau4 4O1 hire fas
transportation or irrigation, and pine line
for oil or gas When the electric light
and power business conducted in com
Junction with any street railroad csn ha
practically severed from the street rail-
road business for purposes Of assessment
then such severance shah be mada Nv
the Tax Commission and such alectrio
light and power business shall NOT he a
source of State revenue.
Bird. All banks, State and National
including savings banks. trust banks ana
trust companies, and all private bankers
whether individuals or partnerships, save
that the real estate Of all banks ard
bankers shall be locally assessed and
estate of banks and bankers shall ha
equalized annually by the Tax Commits
sion to the basis established and In vogue
IN each locality where such real estate
4th. All insurance companies incl,,a-
ing bonding and surety eompa mics Tor
'eign or domestic, and all persons and
partnerships engaged In insuring persons
and corooreal property ofasueh comma niea,
persons or partnerships shall be locaIIv
assessed and taxed.
Eth 5th: Al sugar reflnsries, rice mills,
fineries and refIneries Of petroleum and
It's products. A sugar refinery is hereby
defined to be a concern that buys and re-
hnes raw sugar exclusively. or a concern
kIal buys ana ETSlliiSSE mere
than the aggregate Of the sugar produced
by 1t from cane grown and purchased by
9Th 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 to
the State. The General Assembly shall
defne, in manner not Inconsistent with
any provisions Of this amendment. what
the operative property OF each such
source is. Real estate and the improya-
ments thereon forming part of any rail-
road seminal, depot or yard or ware
1912. even though it may form parf 81
the operative property Of any railroad.
shall not be considered asource Of State
revenue except by constitutional amend
ment, unless such property had been,
rninal, depot, yard, warehouse or shop
4. All other property subject to taxa
ton, except as herein specided, or except
as may hereafter be directed by vote
to each house Of the General Assembly.
shall be sources OF local taxation.
Article Ill.
The General Assembly shall have power
to levy for State purposes the following
special taxes:
1. "A tax on the transfer OF stocks In
corporations not to exceed cents a
share.
2. A tax on the organization of do
nestle corporations, organized for profit,
excepting banks, fraternal Insurance
companies, and building and loan or
homestead association, not to exceed
ten dollars fiat, plus not to exceed one
twentieth Of one per cent Of the author
led capital stock and surplus, which tax
shall be levied upon increases Of capital
stock as well as upon original issues
8. A tax on private corporations or
niZa6 FIR fas .i,ys7n aofo
ercising corporate functions, not to ex-
coed one-twentfeth of one per cent per
annum on the outstanding capital stock
and surplus, excluding banks, fraternal
ng and loan or homestead associations;
no such tax to be less than five dollars
On foreign corporations this tax shall
oe levied on such proportions of their
his State in intra State business In
leu of the franchise tax on capital and
surplus, life insurance companies foreign
ind domestic, not including fraternal IN
! nat fee Of $4,000 plug $3.50 on each
30, o00.09 Of premiums collected In Louis
ana during the preceding year.
The annual ad Yalofem tax on all
III other auto driven yafieles used for
Of persons or freight for
1ire, with permission to the local govern
nent OF the residence OF the owner to
Ivy SS4A StIlltudl Es1LEalSG Ink MOL 10 GNC6GQ
800. One half Of the proceeds Of this
State tax collected from each owner shall
so TO the State good roads funds; the
'emaining rnoiety Of such tax shall be
of the locality from which the I
machine is registered, to be devoted ex-
,lusiyely by such governing authority to
he improvement Of the public highways
within its Jurisdiction.
s 5. A tax on cotton future contracts
n Lieu of all licenses to future brokers',
II not more than fifteen nor less than
en- cents on each purchase and sale OF
Zach 100 bales, to be paid on each trans
tction, one-half by the buyer and one
1alf 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
han one and one-haf per cent nor less
han one per cent on the commissions
aid on each transaction. Each unit con-
ract as established by the rules of the
espective exchanges shall be the basis
# the tax, to be paid, one-lalf by the
,uyer and one-han by the seller.
Z. "A true. progressive Inheritance tax
or the benefit of the General Fund, and
such tax is levied all benefciaries shall
e divided into the following classes with
he following maximum exemptions Tor
ach class:
First, ascendants, descendants, ana
pouses, with an exemption of $1,000 each,
xeept as t9 n the W a when the eK
II
hildren under the ages Of sixteen, when
he exemption shall be $4,000 each The |
Fidow's marital fourth shall be exempt. /
Second, collateral relations OF the sec
nd degree, including nephews and |
ieces and their descendants when the |
state IS divided by roots. with an ex-
mption OF ST, 900 to each root, and daugf-
ers-in-law with an exemption Of $1,000 /
ach.
Third, collateral relaticda Of the third |
egree. excluding nephews and nieces
nd their representatives, with an ex-
rnption of $500 each.
Fourth. all other collateral relations
,ithin the sixth degree inclusive, with
n exemption OF $3.50 each.
Fifth strangers and all collateral re-
Ltions beyond the sixth degree, with an
Sernption of 500 each.
The maximum rate Of the progressive
TX shall not exceed eight per cent for tl1S
rst class, twelve per cent for the second
ass. sixteen per cent for the third class,
twenty-five per cent for the fourth class,
nd thirty, per cent for the fifth class,
aximum rates to be attained when any
Iheritance. legacy, or donation exceeA
half million dollars.
And the minimum rates Of such tex
1al1 be one per cent for the first class
70 and one half per cent for the seconE !
ass, three and three fourths per cent
r the third class, seven per cent for tho
urth class and thirteen per cent for