The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-09-20
, surplus and undivided profits less the as I,

,surplus and undivided profits less the az
sessed value Of real estate iocaly
sessed and taxed, and less Sucl tui anot
deductions of not less than i've per Gen i
IN their loans and discounts to cover PAD
debts and unearned interest as the ueA-
eral Assembly may prescribe. winch uG
duction shall be made only from ti.eis
surplus and undivided profits al taAe 80
to be paid by the banks ana c''"i eoN ~
the stockholders , e.,,s
and unincorporated banking ASSOCIATIONS,
dOmiCiled in this State shall be assessor
on the amount Of capital SuliHuS az"
Undivided profits actually employed ~
their business, less the aSSeSSeu tuved
real estate locally assessed ana taHeu'
acualIy and exclusively used ana EN-
Moved in their business, and less Such
further deductions not less than I'VE per
cent on their loans and discounts "
cover bad debts and uneamed interest rs
the General Assembly may preScrlpo'
which deduction shall be made "nIE from
their surplus and undivided profits.
| J. Foreign banks and inHVidunl BANK
rrs. banking firms and unincoIporated
banking associations domiClIed 0ut OF lio
state but doing business In this STATE,
shall be assessed on such proportion 81
their capital, surplus and undivided
profits as is actually employed In TINS
state. less the assessed value Of real eS-
tate locally assessed and taxed, actuaiiy
and exclusively used and employed III
! their business in this state, and less
such further deductions, not less tnah
| five per cent on their loans and DIS
/ counts TO cover bad debts and uncarn-
cd interest as the General Assembly
may prescribe. which deductions shall
be made only from their surplus and I'M
divided profits
6. Insurance, bonding and surety com
panieS, and persons. firms and aSSOcla-
tons engaged in the insurance. bonding
and surety business, excluding however,
traternal insurance companies and aSso-
CiatiOns 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
panies or associations authorized to do
business in this State. The percentage
aforesaid shall not exceed three per cent
for all branches of insurance, bonding
and surety business, except life and
industrial insurance and shall not ex-
coed two per cent for life and industrial
insurance. The special taxes to support
the office Of fire marshal and fire pre-
vention bureaus shall not be deducted
from the premiums hereby authorized to
be taxed. When by the laws Of any other
state or country any taxes, fines, pen
alties licenses, fees, deposits of money
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, H.
CenSeS. deDOSitS Of money, or of Securi-
ties or other obligations or prohibitions
Imposed upon such insurance, bonding
or surety companies of such other State
, or country. so long as such laws continue
In force the same obliga tons and proh-
billions Of whatsoever kind may be i'm
posed by the General Assembly of this
inc
companies Of such other State or country
doing business in this State
Z Irrigation canals shall he taxed on
a percentage not to exceed two per cent
, Of their gross receiOts 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-
f ceipts. All other real estate and personal
sroDertv of the owner Of any canal shall
be locally assessed and taxed
, s. All sugar refneries. rice mills. cot
, ton seed oil mills. cotton seed oil re-
fineries and refineries of petroleum and
its products shall be assessed on the fair
market valuation.
., Until otherwise provided by the
. General Assembly by a vote Of two thirds
Of the members elected to each house. all
operating mines Of sulphur, salt or other
minerals, all oil or gas wells all stone
! ouarries, sand, gravel and shell pits shall!
he taxed upon percentage Of the gross
value Of the product at the mouth of
the mine, we'll, quarry or pit This per-
centage shall not exceed five PER cent for
{ sulphur: three per cent FOR salt two and
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. uuarries or pits or oil OR gas wells,
where the owner, other than public SER
vice corporations, uses the same for his
i. personal purposes and does not sell the
same or It's products or manufa cture 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 10 private ownership.
the General Assembly may levy sperial
taxes per cubic yard Of material taken
out and may levy different special tax
, for each OF said objects Of taxation, The
| Government Of the United States for any
PURPOSES. and contractors engaged in the
construction Of any public work for the
State or for the United States solely for
, the nurpose Of surh public work are au-
thorized to take free from taxation
, gravel, shell or sand from the beds Of
t the State. Every Ct ZEN Of the State
! shall have a similar '1ht to take such
| materials for his ov-' ~ersonal use free
| from taxation. unless 'Hav are taken for
sale. All real ann r 'anal DrOpartV ~
the owners of such m sc. wells, ouarries
and pits. excert machi~nrv. tools and i'm
r elements absolutely essential to the on
Grafton Of any mine. oil or gas well, stone
, quarry. sand gravel or she'll pit, and en-
cent the products themselves while in
the hands of the producer, shall be To-
, allv assessed and taxed.
TO- All real and personal pronertv re-
served for local taxation shall he assessed
at such nercentage not to exceed 100 per
cent Of It's fair market value as each To-
r cal governing authority may establish.
3 and lower percentage NAV be estah-
3 lished for personal than for real property
: or for the values Of improvements than
for land values.
3 H.. In all assessments Of real propertv
whether for local or for State pnrnoses
, the value Of the land shalt he assessed
Separately from the value Of the improve
= ments: hut railroad. pine line and canal
: rights OF way, whether held in fee or nm
: DER easement, may he assessed senara teIv
. from, or together with the improvements
3 thereon as the Tax Commission NAV
deem most practicab'e
II, Assessments shall he arranged geo.
graphically as far as possible either ,1non
. the roll or uron separate records ana the
( General Assembly shall rass laws nro-
r vfdine for the printing and publica tfon IN
narph'et form NJ the records. showin.
1 such seographicallv arranged assessments
r small price az
-. Everv taxpayer shall have Tho
right Of testing the correctness ~ HE &c
~ tn