The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-31

4th, All insurance companies in
Guiding bonding and surety compauie.
;, iorelgn or domestic, and all person:
y ana partnerships engaged in insur
. ing persons Or property, save thai
, ali the real estate and corporea
Z property OF such companies, persons
;. or partnerships shall be locally as
I sessed and taxed
9th. All sugar retineries, rice mills
cotton seed Oil mills. cotton seed oil
retlneries and refineries of petroleum
ID and its products. A sugar refinery
is hereby defined to be concern
that buys and refines raw sugar ex.
ciusively, or concern that buys and
reflnes more raw sugar than the ag-
eregate of the sugar produced by it
from cane grown and purchased by
it.
9TH. All mines of sulphur, salt or
other minerals, all oil or gas wells,
all stone quarries, sand, gravel and
shell pits.
). Only the operative property Of
state sources Of revenue shall be
segregated to the State. The Gener.
a. Assembly shall define, in a man.
ner not inconsistent with any pro.
visions of this amendment what the
operative property of each such
source is. Real estate and the i'm.
proyements thereon forming part of
any railroad terminal, depot or yard
Or warehouse or shop, acquired after
july l, 1872, even though it may form
part or the operative property of any
railroad, shall not be considered a
source OF state revenue except by
constitutional amendment unless
such property had been, prior to said
GATE, part Of a railroad terminal, de.
pot yard. warehouse or shop.
Z. All other property subject to
taxation, except as herein specified.
or except as may hereafter be direct.
ed by a vote of two-thirds of all the
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. A tax on the transfer of stocks
III corporations not to exceed 2 cents
a share.
2. A tax on the organization Of
domestic corporations, organized for
profit, excepting banks, fraternal in.
surance companies, and building and
loan or homestead associations. not
TO exceed ten dollars flat, plus not
TO exceed one-twentieth OF one per
cent OF the authorized capital stock
and surplus, which tax shall be lev
led upon increases of capital stock
as well as upon original issues.
). A tax on private corporations.
organized for profit, for the privilege
OF exercising corporate functions, not
70 exceed one'twentieth Of one Der
cent per annum on the outstanding
capital stock and surplus, excluding
banks, fraternal and life insurance
companies and building and loan or
homestead associations: no such tar
to be less than five dollars. On for.
eign corporations this tax shall he
levied on such proportions of their
capital stock and surplus as is used
IN this State in interstate business.
IN lieu OF the franchise tax on cant.
tai and surplus, life insurance com.
panles, foreign and domestic. not in.
Guiding fraternal insurance associa.
lions, shall pay annually a flat fee OF
$4,000 plus $3.50 on each SO. ZOO
OF premiums collected in Loakiana
during the preceding year.
&. An annual ad valorem tar on
all automobiles and taxicabs. and Al.
SO on all other auto driven vehicles
USED Tor transportation Of persons Or
irelgnr for hire. with Permission 10
tne local government Of the real.
aence OF the owner to levy an annual
license tax not to exceed $500. one.
malt Of the proceeds Of this STATE
TAX collected from each owner shall
60 to the State good roads funds:
ne remaining moiety Of such tai
snail be paid over by the State to
NE governing authority of the local..
y rom which the machine Is regis
erred, to be devoted exclusively by
'uch governing authority to the i'm.
'rovement Of the public highways
within its jurisdiction.
5. A tax on cotton future con.
racts. in lieu Of all licenses to f,-
ure brokers', of not more than IF.
cen nor less than ten cents on
acn purchase and sale of each 100
ales, to be paid on each transac.
ion, one-half by the buyer and one.
alf by the seller.
6. A tax on grain, coffee rice
I'D sugar future contracts, in lieu Of
Il licenses to future brokers'. OF not
ore than one and one-half per cent
Or less than one per cent on the
admissions paid on each transac.
on. Each unit contract as estab.
'hed by the rules of the respective
'changes shall be the basis of the
x, to be paid, one-half by the buy.
and one-half by the seller
Z. A true, progressive inheritance
x for the benefit of the General
md, and if such a tax is levied all
neficlaries shall be divided into
2 following maximum exemptions
: each class:
FIRST, ascendants, descendants. and
buses, with an exemption OF s2O00
n, except as to the widow. when
exemption shall be $4,000. and er.
" as to children under the are Of
teen, when the exemption shaII ~