The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1912-10-26

or'.'~-ihles
sessed ana

ana lisp les pr9 oaq!, A sugar(efgilnaun
that buys and refines raw Pncern
or concern that lar ex,
refines more raw sugar ~ S ana
gregate of the sugar nrod'1nx as.
from cane grown and nnrcbas. It
it.
9th. All mines OF sulphur sal
other minerals, all Oil Or gas W,
all stone quarries, sand, graz
shell pits.
3. Only the operative propertv
state sources OF revenue sbou
segregated to the State. The Gene
d. Assembly shall define, in . n19.
ner not inconsistent with any NJ,
visions Of this amendment what III
operative property of each src1
source is. Real estate and tha i'm.
provements thereon forming part Of
any railroad terminal, depot or ward
or warehouse or shop, acquired affar
July l, 1912, even though it NAV form
part of the operative property OF any
railroad, shall not be considered a
source of state revenue exceDt nv
constitutional amendment unless
such property had been, prior to said
date, part Of a railroad terminal, de.
pot, yard, warehouse or shop.
a. All other property subject TO
taxation, except as herein specified,
or except as may hereafter be direct.
ed by 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:
/. A tax on the transfer of stocks
in corporations not to exceed 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 onetwentieth 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.
3. A tax on private corporations,
organized for profit, for the privilege
OF exercising corporate functions, lot
to exceed one-twentieth of one per
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 tax
to be less than five dollars. On for
eign corporations this tax shall be
levied on such proportions of their
Lcapital stock and surplus as is used
in this State in intrastate business
In Lieu Of the franchise tax on CAPT
tai and surplus, life insurance com
, paniest foreign and domestic, not IN
Guiding fraternal insurance associa
lions, shall pay annually a flat fee o.
$4,000 plus $3.50 on each $1O.O0o.O(
OF premiums collected in Louisiana
during the preceding year.
4. An annual ad valOrem tax OF
all automobiles and taxicabs, and al
2 so on all other auto-driyen vehicles
used for transportation Of persons O.
) freight for hire, with permission u
t the local government of the resi-
| dence of the owner to levy an annual
? license tax not to exceed $500. One
| half of the proceeds of this State
? tax collected from each owner shall
3 go to the State good roads funds;
2 the remaining moety Of such tax
shall be paid over by the State to
the governing authority of the local.
: ty from which the machine is regis
: tered, to be devoted exclusively by
r such governing authority to the I'M
K provement Of the public highways
e within it's jurisdiction.
i 5. A tax on cotton future con
!. tracts, in lieu of all licenses to Iu
/ ture brokers', of not more than M
e teen nor less than ten cents on
each purchase and sale of each lOC
bales, to be paid on each transac
/ ton, one-half by the buyer and one
: half by the seller.
S 6. A tax on grain, coffee, rice
a and sugar future contracts, in lieu o.
S all licenses to future brokers. OF no.
: more than one and one-half per CEN
y nor less than one per cent on tne
s commissions paid on each transac
n ton. Each unit contract as estao
lishsd by the rules of the respective
a exchanges shall be the basis OF inc
l. tax, to be paid, one-half by the puy
e er and one-half by the seller.
e Z. A true, progressive inherllanct,
! tax for the benefit Of the Genera,
Fund, and if such tax is LEVIED al
p beneficiaries shall be divided INC
the following maximum exemptions
r for each class: ra
s First, ascendants, descendants, any
!, spouses. with an exemption of Sow
d each, except as to the widow, When
! the exemption shall be $4,000, and e x,
d cent as to children under the age o.
!. sixteen. when the exemption shall be
o.,t $500 each. The widows marital
!. fourth shall be exempt.
i. Second, collateral relations OF tnt
8 second degree, including nephews ane
= nieces and their descendants Wn .sl
y, the thee estate is divided by roots, WIN
l. l. an exemption of $1,000 to each roo.
+. and daughters iin-law with an exenp
ID ton of $1,000 each. -, the
D. Third. collateral relations OF 'ns
A. third degree, excluding nephews an,
" nieces and their representatives, VIII
It an exemption of $500 each. 80,
a. Fourth, all other collateral re enc,
| %Ln GpprGn luClu