Article X
Sec. 3: The legislature shall provide by law a uniform rule of taxation, except on property paying specific taxes, and taxes shall be levied on such property as shall be prescribed by law.
: Provided, ThatThe legislature shall provide by law auniform rule of taxation for such property as shall be assessed by a state board of assessors, and the rate of taxation on such property shall be the rate which the state board of assessors shall ascertain and determine is the average rate levied upon other property upon which ad valorem taxes are assessed for state, county, township, school and municipal purposes.scheme of taxes upon the net gains, profits and incomes of all citizens and inhabitants of this state, from whatever source said gains, profits and incomes are derived, which tax shall be graduated and progressive as follows:There shall be an exemption of $4,000 per annum of all incomes.
Incomes of from $4,000 to $20,000 per annum shall be taxed at the rate of 5 per centum.
All incomes above $20,000 up to and including $40,000, shall be taxed at the rate of 6 per centum.
All incomes above $40,000 up to and including $60,000, shall be taxed at the rate of 7 per centum.
All incomes above $60,000 up to and including $80,000, shall be taxed at the rate of 8 per centum.
All incomes above $80,000 up to and including $100,000, shall be taxed at the rate of 9 per centum.
All incomes above $100,000 shall be taxed at the rate of 10 per centum.
The income tax law, herein authorized shall be administered by a board of state tax commissioners.
All monies paid to a board of state tax commissioners under the provisions of this amendment shall be paid into the state treasury and shall then be credited to the general fund of the state, and shall be used for defraying the general expenses of the state government and for the payment of principal and interest on state bonds.
On or before the first day of September of each year, the auditor general shall deduct from the total amount directed by the legislature to be included in the state tax, for that year, the amount of money received under the provisions of this amendment and credited to the general fund of the state for the current year and the balance if any shall be deemed to constitute the state tax to be apportioned among the various counties of the state in accordance with the provisions of the general tax law.
