REVENUE AND TAXES. 2639

State, shall respectively be subject to the annual State tax upon their
respective gross receipts within the State, prescribed by Section 172, which
shall be paid and collected in a manner provided now or hereafter by law;
and the real and personal taxable property belonging to such respective
railroad companies shall be subject to county and municipal taxation to
this State, in the respective counties and cities in which such property is
located; and where such respective railroad companies are subject to such
gross receipts tax for State purposes, their shares of stock and real or
personal property shall not be subject to taxation for State purposes, and
when such real or personal property of such respective railroad companies
is subject to county and municipal taxation, their respective shares of
stock shall not be subject to county and municipal taxation, but the capital
stock and property of all other corporations which are subject to a tax
upon their gross receipts, other than railroad companies, shall be valued,
assessed and taxed for State, county and municipal purposes, like the
capital stock and property of other corporations under this Article.
See notes to sec. 166.

An. Code, sec. 162A. 1914, ch. 797, sec. 162A. 1918, ch. 294, sec. 162A. 1920, ch. 64.

167. The State Tax Commission shall take into consideration, in de-
termining the taxable values of the shares of stock of any Bank, State or.
National, and Trust Company, located and doing business in this State
except in case of such Banks or Trust Companies as are in liquidation,
the capital stock paid in, its surplus and undivided profits, as provided
for in Section 158 of this Article and from the valuation which the State
Tax Commission may find shall be deducted the assessed value of the real
property belonging to and assessed to such Bank or Trust Company, and
the assessed value of all other property, or investments, held or owned by
Banks or Trust Companies, now authorized by Article 81, Section 168
of the Annotated Code of Maryland to be so deducted, and the remainder
shall be by the State Tax Commission divided by the number of shares
of such capital stock outstanding for the purpose of determining the re-
spective taxable value of each share, as provided in the preceding Section,
and there shall be paid on such valuation the regular rate of taxation for
State purposes, and there shall also be paid on such valuation one per
cent, and no more, in all for all County, City and Municipal taxation,
which said tax shall be distributed among the different jurisdictions, en-
titled to tax the said shares, in the proportion which the rate of each juris-
diction bears to the aggregate of the rates of such jurisdictions, and said
tax shall be in lieu of all other taxes whatsoever, for County and Muni-
cipal purposes upon the shares of stock and the owners of stock in such
Banks or Trust Companies. But in the case of such Banks and Trust
Companies, as may be in the course of liquidation, the aggregate value
of all shares thereof, for the purpose aforesaid, shall be determined by the
State Tax Commission from the assets and liabilities thereof, and upon
such valuation of such shares so determined, the regular rate of taxation
for State and local purposes, shall be paid, in the manner provided in this
Article. Credits by reason of the ownership by any such Bank, or Banks,