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1804 LAWS OF MARYLAND [CH. 597
allowed by Section 224 or Section 224A hereof (as the case
may be), [ ) ] as limited by Section 225 hereof [ ) ]. Tax-
able net income means the net income of a taxpayer as de-
fined herein, less the personal exemptions allowed by Section
228 hereof. NET INVESTMENT INCOME MEANS INVEST-
MENT INCOME AS DEFINED IN SECTION 222 (N)
HEREOF, LESS EXPENSES DEDUCTIBLE THEREFROM
AS PROVIDED IN SECTION 224 (M) HEREOF.
230.
(c) There is hereby annually levied and imposed for each
year beginning after December 31, [1947] 1949, 1950, a tax
on the net income of every resident individual of this State
and on the net income, taxable in this State, of every indi-
vidual not a resident of this State. Such tax shall be at the
rate of two per cent (2%) on the first $500. 00 of taxable
investment income and at the rate of five per cent. (5%) on
the [amount] balance of the taxable net [income up to but
not exceeding the amount of the investment income and at
the rate of two per cent. CENT (2%) OF THE FIRST
$500. 00 OF THE NET INVESTMENT INCOME SUBJECT
TO THE TAX IMPOSED BY THIS SUB-TITLE AND AT
THE RATE OF FIVE PERCENT (5%) ON THE BALANCE
OF THE NET INVESTMENT INCOME SUBJECT TO THE
TAX IMPOSED BY THIS SUB-TITLE AND AT THE RATE
OF TWO PERCENT (2%) on the balance, if any, of the
taxable net income.
246B. No return shall be required to be filed for or on be-
half of, nor shall there be any liability for the payment of un-
paid income taxes due by, residents of the State who die while
serving in the armed forces of the United States, [or of the]
Allied Nations or United Nations, even though such return
was required to be filed or an income tax liability required to
be paid at any time prior to [June 1, 1945] April 1, 1951.
BE PAID AT ANY TIME PRIOR TO JUNE 1, 1951.
253.
(b) The remaining net income, hereinafter referred to as
business income, shall be allocated to this State if the trade
or business of the corporation is carried on wholly within this
State, but if the trade or business of the corporation is carried
on partly within and partly without this State so much of the
business income of the corporation as is derived from or rea-
sonably attributable to the trade or business of the corpora-
tion carried on within this State, shall be allocated to this
State and any balance of the business income shall be allocated
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