Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1896-04-02

alton of savings banks nor the act
Of 1892 relating 10 the tax on dis
titled spirits.
Exemptions from 7arafson.
The following are among the ex-
smptions from taxation
United States bonds or the prop
erty Of the United States, the State
or any county or city.
Houses used exclusively for pub
lie worship, parsonages. graveyards,
cemeteries not used for profit.
Crops in the hands Of producer
or his agent.
Tools Of mechanics worked by
hand power.
Farm implements to the value Of
$500.
Wsaringapparel except diamonds
and costly jewelry not habitually
worn.
Fish in possession of fishermen.
Hospitals and charitable institu-
tions, educational institutions and
as much as forty acres attached
thereto.
Personal property of corpora
ton in this State whose shares are
subject to taxation. The shares of
railroads in the State which pay tar
on gross receipts and municipal
tax.
Book accounts OF merchants pay
ing tax on average value of stock in
trade and every person engaged in
commercial business shall pay tax
on the average value of his stock in
trade.
The exemption of homestead or
building ASSOCIATION shares vas
stricken out.
The president of every corpora
ton doing business in the State
must furnish to the county COM
missioners or Appeal Tax Court a
statement of real estate owned, and
the valuation of this real estate is
deducted from the total value of
stock, as at present. The shares
of stock are to be valued for coun.
ty and municipal purposes to the
owner in the county or city where
he resides. The tax on shares
owned by non-resldents shall for
county and municipal purposes be
taxed where the corporation is sit
uated, and the tax shall be collect
ed from the corporations, and may
be charged by the corporations to
the stakeholder.
All steam railroads doing bust.
ness in Maryland shall be subject
to the tax on gross receipts.
Gross Receipts Taz.
A franchise tax is levied on the
gross receipts of all steam railroads
doing business in the State, as fol.
lows Eight-tenths of l per cent.
on tie first 81, 900 per mile of gross
earnings or on the total earnings,
if they are less than 81 900 PEI
mile, and II per cent. on all gross
earnings above 81 900 per mile and
up to $4,000 per mile. When the
earnings exceed $4,000 per mile
per cent. on all earnings above that
sum. A State tax-as franchise
tax-of two per cent. is levied on
the gross earnings of telegraph or
cable, express or transportation,
telephone, parlor car, sleeping car,
safe deposit, trust, guarantee and
fidelity company incorporated and
doing business in the State; one
per cent. on the gross receipts OF
oil pipe line companies, title insur-
ance companies incorporated in the
State: three-quarters of one per
cent. from the receipts of electric
light companies; one and one half
per cent. on electric construction
and gas companies incorporated in
this State and every fertilizer com.
pany doing business in the State.
Railroads and pipe lines, tele-
graph, express and other similar
companies partly in the State shall
pay in proportion to the trackage
or business in the State. All CON-
panies such as above enumerated
except fertilizer companies are sub
iected to the gross-receipts tax.
| Mortgages.
A tax of 8 per cent. upon the rev.
enues OF mortgages is imposed
one-fourth to 60 to the State and
three-fourths to the county or city
or to be payable where the mort