The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-08-29

!. Assembly snail 0ellDe. III uA""
Ter not Inconsistent with any pro-
,isions of this amendment what the
lucrative property of each SUCH
,ource is. Real estate and the I'm.
,royements thereon forming part OF
INV railroad terminal, depot or yard
D. warehouse or shop. acquired after
July /, 1912, even though 1t may form
part Of the operative property OF any
railroad, shall not be considereo
source OF state revenue except 0y
amendment unless
such property had been, prior to said
date. mart of q railroad terminal. de-
pot. yard, warehouse or shop.
1. All other property subject TO
taxation, except as herein specified.
or except as may hereafter be direct
ed by a vote Of tw0-thirds OF all the
members elected to each house ott0e
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 2 cents
a share.
2. A tax on the organization Of
domestic corporations. organized Tor
profit, excepting banks, fraternal 10.
surance companies. and building ana 81
loan or homestead associations, not
to exceed ten dollars flat. plus not n
to exceed one.twentieth OF one per Is
cent Of the authorized capital STOCK
and surplus, which tax shall be lev'
| led upon increases of capital stock
az weN AZ upon original issues.
3. A tax on private corporations,
organized for profit, for the privilege
Of exercising corporate functions. not
To exceed onetwentieth 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
Ito be less than five dollars. On for
eign corporations this tax shall be
levied on such proportions Of their
capital stock and surplus as 10 used
In this State in interstate business.
lin lieu of the franchise tax on CAPT.
. tai and surplus, life insurance com.
panies, foreign and domestic. not In.
GLIDING fraternal insurance ass0cta-
/ tons, shall pay annually fiat Tee OF
$4,000 plus $3.50 on each 100000
. of premiums collected in Louisiana
]. during the preceding year.
1. An annual ad valofem tax on
all automobiles and taxicabs. and d.
e 50 on all other auto driven vehicles
!. fused for transportation OF persons or
8 freight for hire, with pefmission to
I the local government Of the resi-.
i Idence of the owner to levy an annual
e license tax not to exceed $500. One.
Il half OF the proceeds OF this state
e tax collected from each owner shall
q leo to the State good roads funds:
e the remaining moiety Of such TAX
'. shall be paid over BY the state %
the governing authority Of the local..
A. IT, from which the machine 10 regie.
d. tered, to be devoted exclusively ~
# such governing authority to the I'M
X provement Of the public Highways
le within its jurisdiction.
n S. A tax ON cotton future con.
\. tracts. In lieu OF all licenses to NJ
II tture brokers', Of not more than 1T.
,e teen nor less than ten cents on
each purchase and sale OF each lOe
bales, to be paid on each tranSac'
al ton. one-half BY the buyer and one.
l. half by the seller. ,.uas.
~ s. A tax ON grain, coffee. rice
a and sugar future contracts. In lieu o.
70 all licenses to future brokers. Of noe
r. more than one and one-hak per cent
~ nor less than one per cent o. tn
to commissions paid on each transac'
IN ton. Each unit contract - esea1
llished by the rules of the respective
a exchanges shah be the bosb OF IN
n. tax, to be paid. one-half BY the Dry
be er and one-half by the seller.
" z. A true. progressive lnheE1tance
e.. tax for the benefit OF the Genera!
Fund. and II such q tar 10 levied 81
er |beneficiaries shall be divided inte
the following maximum exempe0Na
n. for each class:
ns First, ascendants, descendants, On
n. spouses, with IN exemption Of &3oe(
I'd each, except AZ to the widow, vAea
IT, the exemption shall be 5000, ands11
i'd cept % to children under the ~ O
3: sixteen, when the exemption shalf H.
ot $500 each. The Widows naSlN
Ell. fourth shall be exempt.
h. Second, collateral relations Of ~
60 second degree. including aephews ~
". nieces and their descendants VIZ
ny the estate 10 divided by roots. vii
II. an exemption Of $1,000 to each ROT
ot. and daughters .iin.law with an exc
nd ton Of $1,000 each. -
~ Third, collateral relations Of T.
To- third degree, excluding nepheW0 -
or niecee and their representatives, VII.
ht IN exemption Of $500 each.
m Fourth, oil other collateral re11
IN tions within the sixth degree tnelu
ret sive, with an exemption Of $3.50 eel
No. Fiith. strangers and al colletes1
oil | relations beyond the sixth 1oo1eg
nd with IN exemption Of 500 eaeb. L
ess The maximum rate Of the preope
ve. aive tax shall not exceed eight ~
cent for the first class, tvelye =
on. cent for the second elass, sixtee
nst per cent for the third c3qss, twenty
all five per cent for the 1oasth e1ael
als and thigty per cent for the nfth elaa
eel maximum rates TO Be attained whG
all any inheritance. hgacy O looatio