528 ARTICLE 81.

an annual franchise tax upon the amount of capital employed by it in this

State on the preceding first day of January, as determined by the State Tax
Commission, at the following rates, that is to say:

The sum of twenty-five dollars for every fifty thousand dollars, or frac-
tional part thereof of capital employed by it in this State up to five hun-
dred thousand dollars—but in no case less than twenty-five dollars.

If the amount of such capital is more than five hundred thousand dollars,
and not more than five million dollars, then an additional amount equal to
one-fortieth of one per cent, on the excess.

If more than five million dollars, then an additional amount at the rate
of thirty dollars for every million dollars of such last-named excess.

1929, ch. 226, sec. 141.

141. The State Tax Commission shall annually on or before, the first
day of June ascertain the amount of capital employed in this State by each
foreign corporation and shall certify the same, with the amount of fran-
chise tax due thereon by the corporation, to the Comptroller of the Treas-
ury, who shall at once transmit a bill for said tax to the corporation; and

such tax shall be payable to the Treasurer without interest at any time
within thirty days after the date of mailing, and thereafter and after the
first day of October following shall bear interest at the rate of one-half of

one per cent, for each month or fraction of a month; and if such tax shall
not be paid before the first day of December following a penalty of ten per

cent. on the amount thereof shall be added. If the franchise tax imposed
on any foreign corporation shall not be paid by the first day of December in
the year for which such tax is imposed, if on that date thirty days shall
have elapsed since the rendition of a bill for such taxes by the Comptroller
of the Treasury and, if not, then at the expiration of said thirty days'
period, any and all defaulting foreign corporations shall forfeit the right
to do business in this State until all taxes due are paid, as well as any
interest or charge thereon and in addition be subject to the penalty pre-
scribed by Section 121 of Article 23 of the Code of Public General Laws.
As to the State Tax Commission, see sec. 158. et seq.

GENERAL PROVISIONS.

Preference of Taxes.

1929, ch. 226, sec. 142.

142. (a) Whenever a sale of either real or personal property upon
which taxes are due and payable shall be made by any ministerial officer.
under judicial process or otherwise, all sums due and in arrears for taxes.
upon such property, from the party whose property is sold shall be first,
paid and satisfied; and the officer or person selling shall pay the same to
the collector of the county and/or city.

(b) Whenever a sale of either real or personal property of a corporation,
from which state taxes are due and payable, shall be made by any sheriff,
constable, trustee, receiver or other ministerial officer, under judicial proc-