The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1912-09-14


estate is located
4th All insurance companies in
Guiding bonding and surety tompanjes
lorei8n o. domestic, ana all persons
and partnerships Engaged in :nsur.
ing persons or properly. save that
az ihs real e>tGta ana ,ornoraaI
properly OF such companies, persons
OF partnerships shall be locally as.
: sessed and taxed.
9Th. All SUGAR reftrerf,s rico mills
COTTON seed OIL mills. cotton seed oil
icl,neF'eS ana ref.nerjes OF petroleum
anu us products. 4 SUGAR refinery
IS uefeoy defined to he a concern
lIat haES and retines raw sugar ok
'tus1Feiy, or a concern that buts and
Itl!nes more raw sugar than tn 40
SreSdte OF the sugar produced by +
rom cane grown ana purchas d nv
9th. All mines Of sulphur salt or
other minerals, all oil or gas wells
an stone quarries. sand, gravel and
shell pits. 49,
g. Only the operative property Of
state sources OF revenue shall be
segregated to the State. The Gener
di 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.
proVements thereon forming part or
any railroad terminal, depot or ward
VI warehouse or shop, acquired after
july l, l9l2, even though it NAV form
part or the operative property of any
raiiroad, shall not be considered p
source OF state revenue except nv
constitutional amendment unless
such property had been, prior to said
date part OF a railroad terminal de-
| pot, yard, warehouse or shop.
4. All other property subject to-.
taxation, except as herein specified
or except as may hereafter be direct.
ed by q vote Of two-thrds of all the
members elected to each house of he
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:
I, \ tax on the transftror stocks
! III corporations not to exceed . corts
| q share.
| ?. 4 tax Oh the organization Of
! domestic corporations, orzanizcd for
profit. excepting banks. fratornaI in
sUfahce companies. and buildrg and
| loan o. homestead associations moi
to exceed ten dollars fiat. plus not
To exceed one-twenteth q one per
cent Of he authorized capital stock
and surplus, Wh.ol, tax shall Do ley
led upoa Increases OF capital stock
a. well ae upon original issues.
>. A tax on private corporations,
organized for Profit, for the privilege
Of exercising corporate functions, not
to exceed One-tWeutieth 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 tax
to be less than five dollars. On for
eign corporations this tax shall 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 capt.
tai and surplus, life insurance COM
panies, foreign and domestic, not in
Guiding fraternal insurance assOcia-
tons, shall pay annually a flat fee of
$4,000 plus $3.50 on each 100000
OF premiums collected in Louisiana
during the preceding year.
4. An annual ad valorem tax on
al! automobiles and taxicabs, and al.
SO On all other auto-driven vehicles
used for transportation of persons or
freight for hire, with permission to
IF ha
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
go to the State good roads funds;
the remaining moiety Of such tax
shall be paid over by the State to
the governing authority of the locali-
ty from which the machine is regis
tered, to be devoted exclusively by
such governing authority to the i'm
of the public highways
within its jurisdiction.
8. A tax on cotton future con-
tracts, in lieu of all licenses to fu-
ture brokers', of not more than fiji
teen nor less than ten cents on
each purchase and sale of each 100
bales, to be paid on each transac-
ton, one-half by the buyer and one
half by the seller.
6. A tax on grain, coffee, rice
and sugar future contracts, in lieu Of
Ill licenses to future brokers, of not
more than one and one-half per cent
Tor less than one per cent on the
commissions paid on each transac-
ion. Each unit contract as estab"
ished by the rules of the respective
shall be the basis of the
ak, to be paid, one-half by the buy
r and one-half by the seller
Z. A true. progressive Inheritance
ak for the benefit Of the General
'und, and if such tax is levied all
shall be divided into
he following maximum exemptions
Or each class:
First, ascendants, descendants, and
pOuses, with an exemption of $1,000
ach, except as to the widow, when
ne exemption shall be $4,000, and ex-
ept as to children under the age or
Xteen, when the exemption shall be
$500 each. The widows marital
,urth shall be exempt.
Second, collateral relations OF the
ecOnd degree, including nepheWs and
ieces and their descendants when
le estate is divided by roots, with
4 exemption Of $1,000 to each root
I'd daughters-iin-law with an eXemp-
on of $1,000 each.
irJ