The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1880-04-30
[CHArrER 2o.]
TAXING CORPORATIONS.
AN ACT


AN ACT
To amend and re-enact as amended section one
hundred and iifty-one of article eighty-one of
the Code of Public General Laws, relating to
the method of Taxing the Stock and Property
of Corporations in the Stote, as the same was
enacted by the act of eighteen hundred and
sevcnty-eight, chapter one hundred and seventy
eight.
SECTION l. Be it enacted by the General As
semby of Maryland, That section one hundred
and ftty-one Of article eighty-one of the Code
of Public General Laws, as the same was enacted
by the act Of eighteen hundred and seventy
eight, chapter one hundred and seventy EIGHT,
be amended and re-enacted as amended so that
the same shall read follows:
Isl. At the time of making the returns of
stockholders to the County Commissioners and
Appeal Tax Court of Baltimore city, as required
by law, the president, or other proper officer, of
every bank or other incorporated institution
incorporated under the laws of this State, or
doing business therein, and of every Joint stock
company doing business in this State, shall fur
nish to the county ommssoners of each county
in which such bank or other incorporated insti-
tuition, or Joint stock company, shall own or
possess any real property, and TO the Appeal Tax
Incorporated institution or joint stock company
shall own or possess any real property in said
city, true statement of such real property,
situated or located in such county or city, and
such real property shall be valued and assessed
by said county commissioners and Appeal Tax
Court, respectively, to the said bank or incorpo-
rated institution, or Joint stock company so
owning the same, anG said county commissioners
and Appeal Tax Court shall give duplicate GER
tihcatcs of such valuation and assessment to
such president or other officer, who shall trans
nit one of such duplicate certificates with his
return to the State Tax Commissioner; and State,
county, or city taxes, shall be levied upon and
paid by such bank or other Incorporated insti-
tution or by such joint stock company, on such
assessment, in the same manner as the same are
levied upon and paid by individual owners of
real property in such county or city. The
respective taxable values of the shares of stock
in such banks, corporations and joint stock COM
panies, shall be ascertained by the State Tax
Commissioner in the manner following: he shall
deduct the assessed value of such real property
belonging to the said respective banks corpo-
rations, or joint stock companies, from the
aggregate value of all the shares of such respec-
tive banks, corporations or joint stock compa-
MES and divide the residuum by the number of
the shares of the capital stock, or shares of such
respective banks, corporations or joint stock
companies, and the quotient shall be the taxable
value Of such respective shares for State pur-
poses, and when the valuation and assessment
of the shares of the capital stock, or shares of
such bank, corporation or joint stock company
shall have been finally determined or made for
State purposes, the State Tax Commissioner shall
certify to the county commissioners of each
county where any of such respective stock holders
or shareholders may reside, and to the Appeal
Tax Court of Baltimore city, if any of said stock
holders or shareholders reside in said city, the
assessed taxable value of such respective shares
of stock or shares ascertained as aforesaid,
and the taxable value of such respective shares
of stock or shares in such banks, corporations
or joint stock companies owned by residents of
this State and taxable within this State, shall,
for county and municipal purposes, be valued to
the owners thereof in the county or city in this
State in which such owners shall respectively
reside, but the taxes assessed upon said respec-
tive taxable values, of such respective share of
Stock or shares, shall be collected from such
bank, corporation or joint stock company, and
when so paid shall be charged by such bank,