REVENUE AND TAXES 3127

credits for income taxes paid to other States, under the provisions of Sec-
tion 232 hereof, shall be entitled only to such proportion of the amounts
allowable under (a) and (b) or (d) hereof as that portion of the net
income of such taxpayer which is taxable in this State, bears to his total
net income.

1939, ch. 277, sec. 222.

229. (Taxable Income of Non-Resident.) Such portion of the income
of an individual not a resident of this State as is derived from tangible
property, real or personal, permanently located in this State (whether
received directly or from a fiduciary) and such intangible property as has
acquired a business or commercial situs in this State and income from
business, trade, profession or occupation carried on in this State, shall
be taxable in this State; provided, however, that income derived from
intangible personal property held by a resident or by a domestic corpora-
tion as fiduciary, guardian, committee or trustee for an incompetent, or
as agent for a non-resident principal (unless such property is used in
connection with the trade, business, profession or occupation of such prin-
cipal) shall not be taxable in this State. The proper apportionment of
income derived in connection with trade, business, profession or occupa-
tion carried on within and without the State shall be determined under
rules and regulations of the Comptroller. /

1939, ch. 277, sec. 223.

230. (Imposition of Tax.) (a) There is hereby annually levied and
imposed for each taxable year a tax on the net income of every resident
individual of this State and on the net income, taxable in this State, of
every individual not a resident of this State. Such tax shall be computed
by adding 6% of the investment income to 2 1/2% of the ordinary income,
and subtracting from the amount thus arrived at 2 1/2% of the sum of
the deductions allowed by Section 224 hereof (as limited by Section 225
hereof) and the personal exemptions allowed by Section 228 hereof.

(b) There is hereby annually levied and imposed for each taxable year,
a tax on the net income of every corporation (domestic or foreign) at the
rate of 1 1/2% of such portion thereof as is allocable to this State under
the provisions of Section 253 hereof; provided, however, that national
banks, State banks, trust companies and domestic Mutual Building and
Loan Associations, including mutual savings institutions, both national
and of this State, and religious, educational, charitable, social, fraternal
and other similar corporations not organized or conducted for profit, no
part of the net earnings of which inure to the benefit of any private share-
holder or individual, and farmers' or other mutual hail, cyclone, casualty,
or fire insurance companies or associations (including interinsurers and
reciprocal underwriters) the income of which is used or held for the pur-
pose of paying losses or expenses, shall not be liable for said tax.

(c) No tax imposed under the provisions of this sub-title on any person
with respect to ground rent received by him, shall be collected from the
lessee by the lessor, and any agreement, expressed or implied, entered into
by a lessor and a lessee providing for the payment of such tax by the lessee
shall be void.