958 LAWS OF MARYLAND. [CH. 466

88D. From and after the expiration of the year 1918 every
such business corporation, except charitable, benevolent and
fraternal institutions, shall pay annually to the State Treasurer
on or before the first day of September in each year succeed-
ing the date of its incorporation, an annual tax for its fran-
chise to be a corporation (in addition to any tax now imposed.
by law) at the following rate, that is to say:

On the amount of its capital stock issued and outstanding
on the first day of the preceding January, for the first five-
thousand dollars or less, the sum of ten dollars; for every one-
thousand dollars, or fractional part thereof, in excess of said
five thousand dollars up to and not greater than fifty thousand
dollars, the additional sum of one dollar; for every additional
two thousand dollars or fractional part thereof in excess of
said fifty thousand dollars up to and not greater than one hun-
dred thousand- dollars, the sum of one dollar; if the amount of
such capital stock is more than one hundred thousand dollars-
but not greater than two hundred and fifty thousand dollars,
there shall be an additional annual franchise tax of twenty dol-
lars ; if the amount of such capital stock is more than two hun-
dred and fifty thousand dollars and not greater than five hun-
dred thousand dollars, there shall be an additional annual fran-
chise tax of twenty dollars; if the amount of such capital stock
is more than five hundred thousand dollars and not greater than
one million dollars, there shall be an additional annual fran-
chise tax of thirty dollars; if the amount of said capital stock is
more than one million dollars and not greater than ten million
dollars, there shall be an additional annual franchise tax at the
rate of fifty dollars for each additional million dollars or frac-
tional part thereof; and on every five million dollars in excess
of ten million dollars, the additional annual franchise tax on
such excess shall be at the rate of one hundred dollars for each
five million dollars or fractional part thereof. And for the pur-
pose of this section the entire authorized capital stock of such
corporation, as shown by the charter, certificate of incorpora-
tion or any amendment thereof, shall be taken as issued, unless,
on or before the first day of March in each and every year the
corporation shall file with the State Tax Commission an affi-
davit of any officer of the corporation, showing the actual num-
ber of its outstanding shares as of the first day of the preceding
January. The Comptroller shall annually on or before the
first day of July in each year, transmit to such corporation a
bill for the amount of its franchise tax, and such tax shall be