2604 ARTICLE 81.

companies for the previous year, whether they or any of them have or have
not declared any dividend or earned any profits and without regard to
the place of residence of stockholders.

Although this section requires company to pay state taxes " for the previous year "
on the second of January, since sec 99 imposes a penalty if they are not paid by
first day of November, the taxes are due on latter date for current year. Skinner
Dry Dock Co. v. Baltimore, 96 Md. 43; State v. Safe Deposit Co., 86 Md. 582;
Bamberger v. Baltimore, 125 Md. 433.

State taxes upon capital stock are payable direct to state treasurer, and their
payment may be enforced by mandamus. It is no defense that officer against whom
suit is brought was not in office when tax became due and payable. Effect of the
acts of 1868, ch. 371, and 1872, ch. 419. Emory v. State, 41 Md. 38; Barney v. State,
42 Md. 488. And see State v. Mayhew, 2 Gill, 487.

County and municipal taxes need not be imposed upon the same basis as that
prescribed by this section for state taxation. Firemen's Insurance Co. v. Baltimore,
23 Md. 311.

This and the following sections referred to in construing sec. 112—see notes thereto.
Baltimore v. State, 105 Md. 5.

See secs. 2, 104, et seq.; 154, et seq., and 172, et seq.

As to the taxation of foreign corporations, see art. 23, sec. 122, et seq.

An. Code, sec. 90. 1904, sec. 88, 1888, sec. 85. 1847, ch. 266, sec. 7. 1874, ch. 483, sec. 84.

95. In all cases where any incorporated institution or company has
no capital stock, so called, the property and assets of said company, of
whatever nature, shall be assessed, and the president or other proper officer
thereof shall pay to the treasurer the tax due upon said property and
assets, at the time aforesaid, and also to the collector of the county or city,
the amount of all taxes due on said property and assets to said county
or city.

Sec. 94 of the Code of 1860, held to relate exclusively to such property not repre-
sented by capital stock as corporations absolutely own for use and benefit of cor-
porators. See notes to sec. 96. State v. Sterling, 20 Md. 517.

An. Code, sec. 91. 1904, sec. 89. 1888, sec. 86. 1847, ch. 266, sec. 8. 1874, ch. 483, sec. 85.

1888, ch. 242.

96. Every savings bank, institution or corporation, organized for receiv-
ing deposits of money and paying interest thereon shall pay, annually, a
franchise tax, to the amount of one-fourth of one per centum on the total
amount of deposits held by such savings bank, institution or corporation;
and it shall be the duty of the president, treasurer or other proper officer
of every such savings bank, institution or corporation, on or before the
first day of May, in each year, to report, under oath, to the state tax com-
mission the total amount of deposits held by such savings bank, institution
or corporation, on the preceding first day of January; the state tax com-
mission shall, on or before the first day of June following, calculate
the amount of franchise tax to be paid by the said savings bank, institution
or corporation, at the rate hereinbefore mentioned, and shall apportion
one-fourth of the same to be paid to the treasurer of Maryland, for the
state tax, and the other three-fourths of the same to the county in which
such savings bank, institution or corporation is situate, or to the city of
Baltimore, if such savings bank, institution or corporation be situate in
said city, and shall certify the said amount due to the State, to the comp-
troller of the treasury, to be collected as other state taxes, and the amount
due to the counties in which such savings banks, institutions or corporations