The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-26

STATE. acknowledgements boat, sreanshfR
ferry, barge. and tug, OF other Watea
craft, where operated for hire canal Jog
transportation or irrigation, and pipe .hne
for oil or gas. When the electric light
and power business conducted in con-.
junction with any street railroad can DO
practically severed from the street rail-
road business for purposes Of assessment
then such severance shall be made by
the Tax Commission and such electric
light and ID power pow business shall not Do
| 3rd. All banks, State and Natfoneh
Including savings banks. trust banks ana
trust companies, and all private bankers,
whether individuals or partnerships, save
THAT the real estate OF all banks and
bankers shall be locally assessed and
taxed. The assessments of the resi-
estate OF banks ana nd t BANKERS a sha os
sion to the basis established and in vogue
In each locality where such real estate
/ is located.
ling bonding and surety companies, for
eign or domestic, and all persons and
partnerships engaged in insuring persons
i and corporal property Of such companies,
4 persons or partnerships shall be locally
assessed and taxed
i 5th. All sugar refineries, rice naillA
cotton seed oil mills, cotton seed OIL re-
4 6neries and re1neries OF petroleum and
Its products A sugar refinery Is hereby
i defined to be a concern that buys and re-
i that buys and refineS more raw sugar
4 than the aggregate Of the sugar produced
by 1t from cane grown and purchased by
4 it.
. 9Th All mines OF sulphur, salt or other
minerals, all oil or gas wells, all stons
Iquarries, sand, gravel and shell pits
8. Only the operative. property Of State
sources of revenue shall be segregated to
the State. The General Assembly shall
define In a manner not inconsistent with
any provisions Of this amendment, what
lI4-- r.f nrrf, err
source fs Real estate and the improve
ments thereon forming part of any rail-
road terminal, depot, or yard or ware
: house or shop, ACQUIRED after July !.
!. the operative property of any railroad,
shall not be considered source of State
revenue except by constitutional amend
ment. unless such property had been,
prior to said date, part of a railroad ter
rninal, depot, yard, warehouse or shop
4. All other property subject to taxa.
as may hereafter be directed by vote
Z Of two.thirds OF all the members elected
Ito each house of the General Assembly,
shall be sources of local taxation
Article Ill.
The General Assembly shall have power
to lew for State purposes the following
Especial taxes:
l.. a tax on the transfer OF stocks Ia
:. Interpretations not to exceed cents
= share.
z, A tax on the @DESd1llIhllo1 u w
2 nestle corporations, organized for profit
excepting banks, fraternal insurance
: companies, and building and loan Q,
. homestead association. not to exceed
= Item dollars fiat, plus not to exceed one
: twentieth Of one per cent OF the author
: lized capital stock and surplus, which ta1
= shall be levied upon increases Of capita
s stock as well as upon original issues.
o g. tax on private corporations, or
= ganized for profit, for the privilege of ex.
= / ercising corporate functions. not to OK.
= ceeds one-twentieth Of one per cent Pc g
y annurn on the outstanding capital stool
: and surplus, excluding banks, fraterna
and life insurance companies and build
: ing and loan or homestead ASSOCIATIONS
% no such tax to- be less than i've dollars
y On foreign corporations this tax shaI
J. be LEVIED on such proportions Of thei
= ! capital stock and surplus as is used
y y this State in intra-State business; y
y lieu Of the franchise tax on capital an,
= surplus, life insurance companies, foreisl
le1 and domestic not including fraternal IN
AN ,e ssaes soo p p Ra q
= y $40, ooo.oe of premiums collected In Louls
= ?, lana during the preceding year
,s 4. The annual ad valorem tax on 9
ia automobiles and taxfcabs, and also @
e all other auto driven vehicles used 70
81 &, transportation Of persons or freight fo
.sI hire. with permission to the local govern
ment TIE resiasnse ea 19si 3
soa na a5l1sats sas & s.
& shs les Es2 sae ss sax an sIsa &
paid over BY the State 10 the gevernin
authority 81 the locality from which u
machine is resist erea e be devoted VOTED, g
the Improvement ofSthe public highway
within its jurisdiction.
Ne s. tax on cotton future contract
IN lieu of all licenses to future broker
of not more than fifteen nor less the
fen cents on each purchase and sale
b each 100 bales, to be paid on each tram
action, one-haf by the buyer ana on
90 6. a tax on grain, coffee. rice al
he sugar future contracts. IN lieu Of 9
ing licenses to future brokers', OF NOT mo
than one per centzon the commission
IN paid on each transaction. Each unit GO,
ma. tract as established by the rules OF q
ted respective exchanges shall be the bas
ol- Of the tax to be raid. one-half by e
Of buyer and one ha1fsby the seller,
me i. A true, progressive inheritance T.
nal if such tax is levied all henefciaries Sd,
lay be divided Into the Following classes w
Of the following maximum exemptions
each class:
er- sp enSss with an exemption 81 $1,000 eae
is except as to the widow, when the
enption shall be $4,000. and EXCEPT az
n1- theS exemption shall be $500 each. T
ar widows marital fourth shall be exem
hall Second, collateral rela tons Of the g
t Ten nieces and their descendants when
en- estate Is divided BY roots, with an 6
rial enption of 81, 900 to5each root and daug
i'm ters- law with an exemption OF $l,'
to each.
IS Third, collateral relations Of the th
be degree excluding nephews and niet
es- and their representatives with an
GOD emptfon Of $500 each.
,tu- Fourth, all other collateral relate
GOD within the sixth degree inclusive, "
ads. an exemption Of $3.50 each.
The Fifth, strangers and all collateral
ate Elafions beyond the sixth degree, with
;ub- exemption Of 500 each.
1lch The maximum rate Of the progress
nan tax shall not exceed eight per cent for
Io-i first class, twelve per cent for the sece
Their class, sixteen per cent for the third ella
- twenty-five per cent for the fourth cla
ave and thirty per cent for the fifth ella
axa- maximum rates to#be attained when Z
and Inheritance legacy. or donation exec
1Ilas half million dollars.
, on And the minimum rates OF such
nout shall be one per cent for the first cls
,rity#f two and one half per cent for the Sec
ions class three and three-fourths per e
! Of for the third class seven per cent for
ever fourth class and.thtrteen per cent
1911 +bo o1o W19auavar the ra tn