412 LAWS OF MARYLAND. [CH. 180

of the State. Foreign corporations required to register and
report under the provisions of this section shall not be obliged
to file a certificate of the appointment of a resident agent or
agents with the Secretary of State.

95 Every foreign corporation, except insurance companies
of all classes, and corporations subject to a franchise tax meas-
ured by gross receipts, which maintains an office or place of
business and exercises its franchises in this State, shall pay
to the State Treasurer, for the use of the State, an annual fran-
chase tax upon the amount of capital employed by it in this
State on the preceding first day of January, as determined by
the State Tax Commission, at the following rates, that is to
say: The sum of twenty-five dollars for every fifty thousand dol-
lars, or fractional part thereof of capital employed by it in this
State up to five hundred thousand dollars—but in no case less
than twenty-five dollars; if the amount of such capital is more
than five hundred thousand dollars, and not more than five
million dollars, then an additional amount equal to one-
fortieth of one per cent, on the excess; and if more than five
million dollars, then an additional amount at the rate of thirty
dollars for every million dollars of such last named excess.

The State Tax Commission after ascertaining the amount of
capital employed in this State by each foreign corporation,
shall certify the same, together with the amount of franchise
tax due thereon by the corporation, to the Comptroller of the
Treasury, who shall at once proceed to collect said tax, which
shall be collectible by him and payable to the Treasurer of Mary-
land in the same manner as is now or may hereafter be pre-
scribed by law for the collection and payment of taxes to the
Comptroller of the Treasury by other corporations. If the
franchise tax imposed on any foreign corporation shall not be
paid by the first day of November in the year for which such
tax is imposed, if on that date thirty days shall have elapsed
since the rendition of a bill for such tax by the Comptroller
of the Treasury and, if not, then at the expiration of said
thirty days' period, any and all defaulting foreign corporations
shall forfeit the right to do business in this State until all
taxes due are paid, as well as any interest or charge thereon
and in addition be subject to the penalty prescribed by Section
94 of this Article.

Approved April 13th, 1922.