REVENUE AND TAXES 3023

1929, ch. 226, sec. 2. 1937, ch. 225, sec. 2. 1939, ch. 277, sec. 17. 1939, ch. 387, sec. 2.

2. As used in this Article:

(1) The term "corporation" shall include association or joint stock
company.

(2) The phrase "organized under the laws" shall mean formed or
existing under the statute or common law.

(3) The term "foreign" as applied to a corporation or company shall
mean organized under the laws of any State (other than this State),
Territory, District, possession or foreign country, or the United States.

(4) The term "domestic" as applied to a corporation shall mean or-
ganized under the laws of this State.

(5) The word "person" shall include a corporation unless such construc-
tion would be unreasonable.

(6) The word "executor" shall include an administrator and vice versa.

(7) A partnership shall be deemed a taxable entity and shall be in-
cluded by the word "person," unless such construction would be unreason-
able, and shall, as to its property taxable in this State, be deemed a resi-
dent of the county and/or City where its principal business in this State is
carried on, without reference to the residence of the partners.

(8) The phrase "ordinary business corporation" shall mean any corpora-
tion having a capital stock, except corporations of the following classes,
but only if such corporations are doing business in this State; railroad
and other public service corporations operating railroad or other public
service properties, lines or works in this State (other than properties, lines
or works for transportation by air or transmission by radio), oil pipe-line
corporations operating oil pipe-lines in this State, safe deposit and trust
companies, building or homestead associations, state, national and savings
banks, and savings and finance corporations.

(9) The phrase "finance corporation" shall include finance, credit,
loan, mortgage and commercial banking corporations, and any corporation
other than banks or trust companies substantially competing with national
banks in this State.

(10) The word "city" shall include an incorporated city, incorporated
town or incorporated village; and, where special rates of taxation apply
in any assessment district or part of a county or city, shall include such
assessment district or part of a county or city.

(11) The word "taxpayer" shall include any person or persons paying
or liable to pay any tax, or against whom any liability for taxes is claimed
or asserted, or could be claimed or asserted, whether on his own behalf or
on behalf of others, as, for example, a corporation on behalf of its share-
holders.

(12) Real Estate shall include leaseholds, unless such construction
would be unreasonable.

(13) The phrase "residents of this State" shall include all domestic
corporations.

(14) The phrase "county and/or city taxes" shall include taxes levied
in or for any taxing district, or part of any.county or city, but not taxes
levied in consideration of local improvements upon property specially
benefited thereby.

(15) A corporation which is a resident of this State shall be deemed
a resident of the county and/or city in which its principal office in this
State shall be situated.