HERBERT R. O'CONOR, GOVERNOR. 469

(g) "Taxable year" means the calendar year or the fiscal
year ending during such calendar year upon the basis of which
the net income is computed under this sub-title; and, in the
case of a return made for a fractional part of a year under
the provisions of this sub-title, means the period for which
such return is made.

(h) "Fiscal year" means an accounting period of twelve
months ending on the last day of any month other than
December.

(i) "Resident" means an individual domiciled in this State
on the last day of the taxable year, and every other individual
who, for more than six months of the taxable year, main-
tained a place of abode within this State, whether domiciled
in this State or not; but any individual who, on or before
the last day of the taxable year, changes his place of abode
to a place without this State, with the bona fide intention
of continuing to abide permanently without this State, shall
be taxable the same as a non-resident is taxable under this
sub-title. The fact that a person who has changed his place
of abode, within six months from so doing, again resides
within this State, shall be prima facie evidence that he did
not intend to have his place of abode permanently without
this State. Every individual other than a resident shall be
deemed a non-resident.

(j) "Dividend" means any distribution made by a corpora-
tion (domestic or foreign) out of its net profits, whenever
earned, to its stockholders or members, whether such distribu-
tion be made in cash or other property, except stock of the
same class in the corporation. Amounts paid in liquidation
or dissolution of a corporation shall be treated as dividends
to the extent that they represent earnings of the corporation.

(k) "Ground rents" means all rents reserved under ninety-
nine year leases or sub-leases, perpetually renewable, and also
rents which are redeemable, at the option of the lessee, under
the provisions of Sections 94, 95 and 99 of Article 21 of the
Annotated Code of Maryland.

(1) "Annuity income" means an amount equal to three per
cent. (3%) per annum of the aggregate premiums or considera-
tion paid for any annuity.

(m) "Interest" means interest from whatever source derived,
and includes interest from bonds, certificates of indebtedness,
evidences of debt, judgments, notes, mortgages and money at
interest.

(n) "Investment income" means that portion of the gross
income which is derived from dividends, ground rents, annuity
income and interest, but shall not include interest earned in
the conduct of a business on (1) loans made under the pro-