226 REPORT OF THE COMPTROLLER OF THE TREASURY

STATEMENT B—12

Receipts from the Franchise Tax on Net Earnings of Savings

Banks and Building, Savings and Loan Associations,

For the Fiscal Year Ended June 30, 1967

Total Receipts		$757,805 16
Less Refunds	$ 3319
Less Administrative expenses (1 percent)	7,577 73
Total Deductions		$ 7,610 92
Net Receipts		$750,194 24
Source of Net Receipts
ALLEGANY COUNTY	$12,041 37
ANNE ARUNDEL COUNTY	38,009 93
BALTIMORE COUNTY	117 260 18
CALVERT COUNTY	1,082 78
CARROLL COUNTY	4,025 69
CECIL COUNTY	38794
CHARLES COUNTY	2,247 19
FREDERICK COUNTY	2,761 06
HARFORD COUNTY	4,031 99
HOWARD COUNTY	1,584 10
MONTGOMERY COUNTY	41,061 97
PRINCE GEORGES COUNTY	37,074 37
ST MARY's COUNTY	86142
TALBOT COUNTY	4,375 06
WASHINGTON COUNTY	16,626 00
WICOMICO COUNTY	4,946 68
BALTIMORE CITY	461,816 51
Total Received for Distribution (See Schedule A — 9 3)		$750,194 24

NOTE

The Franchise Tax on Net Earnings of Savings Banks and Building, Savings and Loan Associa

tions is imposed by Chapter 183, Laws of Maryland 1965 The tax became effective January 1, 1966,

and is at the rate of 3/4 of 1 percent—with an exclusion of $100,000 00 from the net earnings
Collections reported in this statement cover the first full year of imposition of this tax
The tax is administered and collected by the Income Tax Division of the State Comptroller's

Office