158

LAWS OF MARYLAND.

or city in which said bank, corporation or joint stock com-
pany is situated; but all county or municipal taxes assessed
upon said respective taxable value of such respective shares
of stock or shares shall be collected from such, bank, cor-
poration or joint stock company, and when so paid, shall
or, may be charged by such bank, corporation or joint stock
company to the account of such stockholders or shareholders,
respectively; but it is expressly provided that all railroad

Provisions as
to railroad
companies.

companies working their roads by steam power incorpo-
rated by or under the laws of this State or any other State,
territory, District of Columbia or foreign country, and doing
business in this State, shall, respectively, be subject to the
annual State tax upon their respective gross receipts within
the State, prescribed by section 146 of this article, 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 in 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 per-
sonal property shall not be subject to taxation for State pur-
poses, and when such real and personal property of such re-
spective 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
purpose like the capital stock and property of other corpora-
tions under this article.

Tax upon
gross
receipts of
railroad
companies.

146. A State tax, as a franchise tax, is hereby levied annu-
ally upon the gross receipts of all railroad companies whose
roads are worked by steam power incorporated by or under the
authority of this State or any other State, territory, District of
Columbia or foreign country and doing business in this State,
such State tax being as follows, to wit :

Eight tenths of one per cent, on the first one thousand dollars
per mile of gross earnings, or on the total earnings if they are
less than one thousand dollars per mile, and one and one half
per cent, on all gross earnings above one thousand dollars per
mile and up to two thousand dollars per mile, and when the
earnings exceed two thousand dollars per mile, two per cent, on
all earnings above that sum; a State tax as a franchise tax of