1282 LAWS OF MARYLAND. [CH. 604

Act, " be and the same is hereby repealed and re-enacted with
amendments so as to read as follows:

Section 88-D. From and after the expiration of the year
1914, every such business corporation, except charitable, benev-
olent, and fraternal institutions, shall pay annually to, th9
State Treasurer on or before the first day of May in each
year succeeding the date of its incorporation, an Annual Tax
for its franchise 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
fifty thousand dollars or fractional part thereof in excess of
said fifty thousand dollars up to and not greater than five
hundred thousand dollars, the sum of twenty-five dollars; if the
amount of such capital stock is more than five hundred thou-
sand dollars, and not more than five million dollars, there shall
be an additional annual franchise tax on such excess over five
hundred thousand dollars at the rate of two hundred and fifty
dollars for every one million dollars or fractional part thereof;
and on every one million dollars in excess of five million
dollars, the additional tax on such excess shall be at the rate
of one hundred dollars for each million dollars or fractional
part thereof. And for the purpose of this Section, the entire
authorized capital stock of such corporation, as shown by the
Charter, certificate of incorporation or any amendment thereof
shall be taken as issued, unless en or before the first day of
March in each and every year the corporation shall file with
the State Tax Commissioner a certificate signed and sworn to
by two of its directors, showing the actual number of its out-
standing shares as of the first day of the preceding January.
The Comptroller shall annually on or before the first day of
April in each year, transmit to such corporation a bill for the
amount of its franchise tax, and such tax shall be payable on
or before the first day of May following, and shall bear interest
thereafter; if such Tax shall not be paid before the first day of
November following, a penalty of ten per cent, on the amount
thereof shall be added, and the Comptroller shall place the bill
therefor in the hands of the Attorney-General for collection by
suit in the name of the State and the failure of any such cor