Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1912-08-30

sessed and taxed, and less such further
on their loans and discounts TO cover bad
debts and unearned N crest as the Cen
eral Assembly may pHscribe, which de-
surplus and undivided profits; all taxes
to be paid by the banks and charged TO
the stockholders.
l. Individual bankers. banking firms
and unincorporated banking associations.
domiciled in this State shall be assessed
on the amount OF capital, surplus and
undivided profits actually employed in
their business, less the assessed value OF
real estate locally assessed and taxed.
actually and exclusively used and en-
ployed IN their business, and less such
further deductions not less than ave per
cent on their loans and discounts TO
cover bad debts and unearned interest as
the General Assembly may prescribe.
which deduction shall be made only from
5. Foreign banks and individual bank
ers banking firms and contemporaries
Nanking associations, domiciled out OF the
State but doing business In this State,
shall be assessed on such proportion OF
their capital. surplus and undivided
profits as Is actually employed In this
State. less the assessed value OF real es-
tate locally assessed and taxed. actually
and exclusively used and employed I'm
their business in this State. and less
such further deductions. not less than
five per cent on their loans and dis
counts, to cover bad debts and unearn-
ed interest as the General Assembly
may prescribe. which deductions shall
be made only from their surplus and un-
divided profits.
6. Insurance.. bonding and surety COM
panies. and persons, firms and associa-
tons engaged in the Insurance. bonding
and surety business, excluding however.
fraternal Insurance companies and ass0-
Citations. shall be taxed on a percentage
OF their gross premiums received upon
their business done In this State. less
return premiums and reinsurance in COM
N mr. q nj IN
/ business In this State. The percentage
aforesaid shall not exceed three per cent
for all branches of Insurance. bonding
Industrial Insurance and shall not ex-
coed two per cent for lifes and Industrial
insurance. The special taxes to support
the office OF fire marshal and fire pre-
vention bureaus shall not be deducted
4 from the premiums hereby authorized to
ybe taxed. When by the laws OF any other
State or country any taxes. nnes PEN
4 or OF securities. or other obligations or
prohibitions are imposed on Insurance.
bonding or surety companies Of this State
| doing business In such other State or
| country, or upon their agents therein in
/ excess Of such taxes. penalties. fees, IL
| censes, deposits OF money, OF Of securi-
| ties, or other obligations or prohibits vs.
Imposed upon such Insurance: eondl .
or country, so long as such laws continue
In force the same obligations and prohi-
billions OF whatsoever kind may be inn
posed by the General Assembly Of this
State upon insurance. bonding or surety
companies OF such other State or country
doing business in this State
Z. Irrigation canals shall be taxed on
percentage not TO exceed two per cent
u their gross receipts, only such real es-
tate and the buildings and structures
thereon, rights Of way, machinery. tools
and implements as are necessary TO the
operation Of any canal shall be Included
In and covered by this tax on gross re-
ceipts All other real estate and personal
property OF the owner OF any canal shall
be locally assessed and taxed.
g. All sugar refineries. rice mills, cot
ton seed oil mills. cotton seed oil re-
fineries and refineries of petroleum snf
Its products shall be assessed on the fair
9. Until otherwise provided by the
General Assembly by vote OF two-t thirds
Of the members elected 70 each house. all
operating, mines OF sulphur, salt OF other
minerals. Aall oil or gas wells all stone
1uarries, sand. gravel and shell pits shall
be taxed upon percentage Of the gross
value OF the product at the mouth Of
centage shall not exceed five ger cent for
sulphur: three per cent for salt: two and
nne-half per cent for oil and gas, and
two per cent for rock and other minerals.
inclusive OF gravel. sand and shells This
tax shall not apply TO the product OF any
mines, ouarries or pits or oil or gas wells.
where the owner. other than public SER
hA"NT
personal purposes and does not sell the
same OF its products or manufacture the
] same into another product for sale.
Where gravel, sand or shells are taken
> from the beds OF public waters or from
shores not subject to private ownership.
the General Assembly may levy sDecinl
] taxes per cubic yard 81 material taken
: out and may levy a different sDecial tax
: for each OF said objects Of taxation. The
b Government Of the United States for any
] nurposes. and contractors engaged IN the
: construction 81 anv public work for the
state or for the United States solely for
: the ~urDose OF such p'ihlic work are aii-
9 thorized to take free from taxation
gravel. shell or sand from the beds OF
. nublic waters and the public shores OF
!. the state Everv citizen Of the state
I shall have a similar right 10 take. such
. materials for his own personal use free
! from tsxation, unless they are taken for
I sale All real and personal property OF
! the owners Of such mines. wells. duarries
. and pits, excent machinery. tools and I'm
elements absolutely essential 20 the OF
T GRAFTON OF any mire. of or gas wen, stone
9 quarry. sand. gravel or shell oft. and ex-
0 cent the products themselves while IN
: the hands Of the producer. shall be 10
: allv assessed and taxed.
y 10. All real and personal property re-
( served for local taxation shall he assessed
: at such rercentBge not TO exceed 100 rel
: cent Of its fair market value as each 10.
cal governing authority may establish
r and lower percentage NAV be esfah.
e ifshed for personal than for real propert,
e cr for the values Of improvements thar
: for land values.
: II. In AM assessments Of real propert,
q whether for local OF for State purposes
a the value Of the land shall he assessed
e senarately from the value OF the improve
d rnerfs: hut railrnad pine iine and cana
v rights OF way. whether held IN fee or un
e der easefnent. may he assessed separafel'
! from. y together with. the imnrnyemeht
e thereon as the Tax Commission ma
l. r. Assessments shall be arranged geo
y eraDhically as far az possible either uDol
Y. the roll OF uDon separate records and IN
;. General Assembly shall mass laws Dro
" vidine for the printing and pubiicsfioa 4
n par7nhiet form Of the records shown
iuch geographically arranged assessment
q md for the sale Of such pamphlets at
T. small price
II H. rverv taxpayer shall have IN
right n testing the correctness Of his az
y sesauent In the courts within such tim
r as the General Assembly nav prescribe
" and property shall be assesHed for
ID sum In excess ~ the percentage Of II
IN governing authority.
{. IA. State licenses and special stat
v taxes shall be due and PAYABLE at sue
g time as the General Assembly may pre-
y scribe.
u Article VII
I. Every municipality shall Rave n
right 20 provide, at its discretion, b
y ordinance OF its governing authority. n
q oficef or officers. who shall collect Il
- taxes. ana TO tx the compensation
20 be paid such oficer OF officers, and IN
7. and every Parish shall elect by vote
g IT'S qualified electors the oficer. OF OF
~ GERS. TO assess It's property for taxatiol
ne the compensation Of such of1cer or OF