The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-10-25

lot OIL or gas. W Ien inc cLeSliIG Ii6hs
and power business conducted in con-
junction with any street railroad can Be
practically severed from the street ran.
road business for purposes OF assessment
then such severance shall be MADE oy
the Tax Commission and such eiectie
light and power business shall not Do
source OF State revenue.
Srd. All banks, State and National
including savings banks, trust banks ans
trust companies, and all private bankera
whether individuals or partnerships, save
that the real estate of all banks And
taxed. The assessments OF the resa
estate Of banks and bankers shall be
equalized annually by the Tax Commits
sion to the basis established and in vogue
in each locality where such real estate
is located.
4th All insurance companies INCLUDE
ing bonding and surety companies, for.
eign or domestic. and all persons ana
partnerships engaged IN insurng persons
or property. save that all the real estate
and corporeal property OF such companies
persons or partnerships shall be locally
assessed and taxed.
eth All sugar refneries. rice mi!lA
cotton seed oil mills, cotton seed oil re.
| fneries and refneries OF petroleum and
| its products. A sugar refinery Is hereby
defined to he a concern that buys and re-
| fines raw sugar exclusively, or a concern
|
than the aggregate Of the sugar produced
| by II from cane grown and purchased e5
! it
! 9Th. All mines Of sulphur, salt or other
minerals, all oil or gas wells, all stone
Quarries, sand gravel and shell pits
| 8. Only the operative property Of State
sources Of revenue shall be segregated 70
the State The General Assembly shall
define, in manner not inconsistent with
any provisions Of this appointment, what
"a ly.1 oh
source is. 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 l,
| 1912, even though ii may form part OF
the operative property OF any railroad,
shall not he considered source OF state
revenue except by constitutional amend
ment. unless such property had been,
prior to said date, part Of a railroad ter.
minal, depot, yard. warehouse or shop.
4. All other property subject TO taxa.
ton. except as herein snecifed or except
as may hereafter be directed 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 Q
share.
2. A tax on the organization of Do
nestle corporations, organized for proft
excepting banks, fraternal insurance
compa MES, and building and loan o!
homestead association. not 10 exceed
ten dollars fat. plus not to exceed one.
twentieth Of one per cent OF the author
lied capital stock and surplus, which tag
shall be levied upon increases OF caplfAl
stock as well as upon original issues.
g. tax on private corporations, or
ganized for profit for the privilege OF ex.
ercising corporate functions. not TO sx-
coed ne-twentieth Of one per cent per
anrum on the outstanding capital stoce
and surplus, excluding banks fraternal
and life insurance companies and build
ing and loan or homestead associations;
no such tax to be less than five dollars:
On foreign corporations this tax shah
be levied on such proportions OF their
;; capital stock and surplus as IS used In
, this State in intra- State business IN
, lieu Of the franchise tax on capital and
surplus, life insurance companies. foreign
!, and domestic. not including fraternal In
sursnce. ASSOCIATIONS, shall pay annually
$40. 900 90 Of premiums collected In Louis
lana during the preceding year
T. The annual ad valorem tax on an
automobiles and taxicahs. and also on
all other auto driven vehicles used fos
TRANSPORTATION OF PERSONS VI Icisut ios
i hire, with permission to the local govern
ment Of the residence Of the owner 70
7 levy an annual license tax not 10 exceed
$500 One-half Of the proceeds OF this
State tax collected from each owner SHAH
go to the State good roads funds; ne
paid over by the State to the governing
authority of the locality from which the
machine Is registered to be devoted OK.
clusively by such governing authority to
the improvement OF the public highways
within It's Jurisdiction.
5. A tax on cotton future cohtracts'
in lieu Of all licenses to future brokers,
Of not more than fifteen nor less than
ten cents on each purchase and sale OF
each 100 bales. to be paid on each trans
action. one-ha1f by the puyer ana one
), half by the seller.
y 6. A tax on grain, coffee. rice and
e sugar future contracts. In lieu OF all
2 licenses to future brokers. OF not m"rs
= than one and one-half per cent nor less
than one per cent on the commissions
a tract as established by the rules OF the
ID respective exchanges shall he the basis
j. NJ the tax, to be paid. half by the
,f buyer and one-half by the seller.
,e l. A true, progressive inheritance tai
=. for the benefit Of the General Fund. and
al IL such tax is levied all benefciaries shall
~ he divided into the following classes will
If the following maximum exemptions FOL
each class:
First, ascendants descendants, and
p spouses, with an exemption Of $4,000 each
a except as to the widow. when tho ex
emntion shall be S. 0Nn. and except as 4
"a children under the ages Of sixteen, wheI
~ the exemntion shall be $4,000 each Tit
r. widows marital fourth shall be exempt
III Second collateral relations OF the sec
e. ond degree, including nephews ant
an nieces and their descendants when tn
~ estate Is divided by roots, with an ex
81 emption OF 81. mo to each root, and daugh
n. ters law with an exemption OF S,oo
- - Third. collateral relations OF the thir'
he degree. excluding nephews and niece
g. and their representatives, with an ex
I'd emption Of $500 each.
H. Fourth. all other collateral relation
I'D within the sixth degree inclusive, wit
L. an exemption Of $3.50 each.
le ,at,ons beyond the sixth degree. with a.
h. exemption OF 800 each.
~ The maximum rate Of the progressiv
. ~ tax shall not exceed eight per cent for tn
-. frst class, twelve per cent for the secon
AZ class. sixteen per cent for the third clasi
twenty five per cent for the fourth class
~. and thirty per cent for the NTH clas,
a. maximum rates 10 be attained when an
M Inheritance. legacy, or donation exceed
es a half million dollars.
an And the minimum rates OF such "a
W. shall be one per cent for the first casi
~, two and one-half per cent for the secon
49,. - class three and three -fourths per Ger
~ for the third class, seven per cent FOR IN
~ -. Fourth class. and thirteen per cent fc
the ffth class Whenever the rste