The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-19

state; atoamnoat. urovor Deat, sesau1snaA
ferry, barge and tug: or other waited
transportation or irrigation, and pipe line
for oil OF gas When the electric light
and power business conducted in con-
practically severed from the street rail-
road business for purposes OF assessment
then such severance shall be made by
the Tax Commission and such electric
light and power business shall not be
source of State revenue.
3rd. All banks, State and National,
including savings banks, trust banks and
trust companies. and all private bankers,
that the real estate of all banks and
bankers shall be locally assessed and
| taxed. The assessments of the real
estate of banks and bankers shall DO
sion to the basis established and In vogue
in each locality where such real estate
is located.
4th. All insurance companies includ-
ing bonding and surety companies for
eign or domestic, and ali persons and
partnerships engaged in fnsuring persons
or property, save that all the real estats
and corporal property Of such companies,
persons or partnerships shall be locally
assessed and taxed.
9Th. All sugar refnerfes, rice mills,
cotton seed oil mills, cotton seed oil re-
| fineries and refineries of petroleum and
it's products. A sugar refinery Is hereby
defined to be concern that buys and re-
| fines raw sugar exclusively, or concern
| than the aggregate of the sugar produced
by 1t from cane grown and purchased by
9Th. All mines of sulphur, salt or other
| minerals, all oil or gas wells, all stone
quarries, sand gravel and shell pits.
s. Only the operative property of state
sources, Of revenue. shall be segregated to
! the State. The General Assembly shall
I'm 4. raf eli CT Y1f wit
any provisions OF this amendment, what
the operative property of each such
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 it may form part OF
the operative property of any railroad.
shall not be considered source of stats
revenue except by constitutional amend
| nent, unless such property had BEEN
prior to said date. part Of a railroad ter
ninal, depot, yard, warehouse or shop.
| A. All other property subject to taxa
ton. except as herein speciffed or except
las 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 Ill.
The General Assembly shall have power
| to levy for State purposes the following
special taxes:
l. A tax on the transfer Of stocks in
corporations not to exceed cents
4 share.
O. A tax on the organization of do
nestle corporations, organized for profit,
/ excepting banks, fraternal insurance
I companies, and building and loan OF
/ homestead association. not to 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 capita5
stock as well as upon original issues.
8. A tax on private corporations. or
/ ganized for profit, for the privilege Of ex-
! ercising corporate functions. not to ex-
annum on the Outstanding capital stock
and surplus. excluding banks. raternai
and life insurance companies and build
ing and loan or homestead associations
On foreign corporations this tax shall
| be levied on such proportions OF their
/ capital stock and surplus as is used In
this State In Interstate business. In
| lieu Of the franchise tax on capital and
tsurplus, life insurance companies foreign
and domestic, not including fraternal in
|surance associations, shall pay annually
a fiat fee Of $4,000 plus $3.50 on each
/ SIT, 100000 of premiums collected in Louis
Llama during the preceding year.
/ The annual ad valorem Tux on ~
4 auton1obiles and taxicabs, and also on
all other auto driven vehicles used for
II transportati OF persons or freight fol
i hire, with permission to the local govern
Il naent OF the residence Of the owner &c
i $500 one-half d the proceeds of thls
state tax collected from each owner shall
Igo to the State good roads funds, the
= remaining rnoiety of such tax shall bs
authority ofhthe locality from which the
n machine Is registered, to be devoted ex-
cusivelyi by such governing authority C
the Improvement Of the public highway
within it's jurisdiction.
5. A tax on cotton future contracts
lin lieu of all licenses to future brokers
I.of not more than fifteen nor less thar
Item cents on each purchase and sale o.
each 100 bales TO be paid on each trans
faction. ore-ha1f by the buyer and one
j. half by the seller.
6. A tar on grain, coffee; rice ans
8 lIicenses to future brokers, Of not mort
Z than one and half per cent nor las
than one per cent on the commission
!. tract as established by the rules Of TN
4 irrespective exchanges shall be the basf
: of the tax,Sto be paid, one half by tn
f buyer and one-half by the seller.
e z Al true, progressive Inheritance ia.
: tor the benefit Of the General Fund. an!
j If such tax IS levied all benet1ciaries shal
y The divided into the following classes witt
4 the following maximum exemptions 70
First, attendants, descendants, an
: spouses. with an exemption Of $1,000 each
: except as to the widow, when the ex
enption shan be IS. coo. and except as :
: the exemption shalt be $500 each. Tn
: Widows martial fourth shall be exempt
Ii Second, collateral relations Of the SEQ
: ond degree including nephews an
n nieces and their descendants when tn
: estate Is divided by roots. with an ex
u emption of q, 900 TO each root, and daugh
: ters-in Jaw with an exemption Of $500
O each.
a Third, collateral relations OF the thir
e degree. excluding nephews and niece
! ana their representatives. with an en-
d emption Of $500 each.
i Fourth. all other collateral relation
d within the sixth degree inclusive, wit
$, an exemption Of $3.50 each.
e Fifth, strangers and all collateral re
3. latfons beyond the sixth degree, with q
y exemption Of $500 each.
h The maximum rate of the progressiv
n tax shall not exceed eight per cent for tn
y first class, twelve per cent for the secon
II class. sixteen per cent for the third elias
twenty-five per cent for the fourth cIas
'e and thirty per cent for the fifth clas
l. maximum rates to be attained when an
ID inferftances legacy, or donation excesd
50 a half million dollars.
N And the @fninirnum rates Of such Ca
it shall be one per cent for the first clas
" two and one-h half per cent for the secon
~, ~ e., - c Ssny