REVENUE AND TAXES. 1075

and such tax shall be payable to the Treasurer without interest at any time
on or before August first of such year, provided the account is mailed on or
before July first; and if the account shall not be mailed until after July
first, the same shall be payable without interest, at any time within thirty
days after the mailing of the account. All franchise taxes on foreign cor-
porations not paid on or before August first, or within thirty days after
the mailing of the account, as above provided, shall thereafter 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 five 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 ex-
piration of said thirty days' period, any and all defaulting foreign corpora-
tions 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 sub-
ject to the penalty prescribed by Section 121 of Article 23 of the Code of
Public General Laws.

As to the State Tax Commission, see sec. 158, et seq.

Excise Tax on Income From Foreign Fiduciaries.

1935, ch. 302, sec. 141A.

141A. Residents of this State who derive income from intangible per-
sonal property of the classes enumerated in Section 6, sub-divisions (3),
(4) and (5), of this Article, held in trust for them or for their use by any
trustee or other fiduciary not a resident of this State, where the donor or
testator creating such trust, is or was, at the time of the creation of such
trust, a resident of this State, shall be subject to an excise tax at the rate
of six per centum (6%) of the net amount of such income received by
them during the fiscal year ending on the 30th day of June, 1935, and
annually thereafter for each fiscal year ending on the 30th day of June,
during which such income shall be so received.

Every beneficiary liable to the tax imposed by this Section shall before
October first of each year report the fact of having received such income to
the local assessing body of his place of residence, which in Baltimore City
is the Bureau of Assessment, and in the respective counties of the State is
the Board of County Commissioners. It shall be the duty of local assess-
ing bodies to transmit promptly the information so received to the State
Tax Commission which shall fix and determine the base upon which the
excise tax is imposable and assess the tax. The State Tax Commission
shall have power to require such beneficiary to supply information as to
the amount and sources of such income and any other information relevant
to the inquiry and to take such action as to it seems just and proper, sub-