180                             LAWS OF MARYLAND                       [CH. 142

able in this State. The proper apportionment of income derived
in connection with trade, business, profession or occupation carried
on within and without the State shall be determined under the rules
and regulations of the Comptroller. Such non-resident individual
shall complete a schedule reconciling income attributable to Mary-
land sources to the Federal adjusted gross income and deductions
shown on his federal income tax return.

288.

(a) There is hereby levied and imposed [for the Taxable year
1947,] for each calendar year beginning after December 31, 1966,
a tax on the taxable net income, as defined in Section 280 (a) of
every resident individual of this State and on the taxable net in-
come, taxable in this State, of every individual not a resident of
this State. Such tax shall be [at the rate of five per cent (5%) on
the amount of the taxable net income up to but not exceeding the
amount of the investment income, and at the rate of two per cent
(2%) on the balance, if any, of the taxable net income.] at the follow-
ing rates: two per cent (2%) on the first $1,000.00 of taxable in-
come, two per cent (2%) on the second $1,000.00 of taxable income,
three per cent 3%) on the third $1,000.00 of taxable income, four
per cent (4%) on the fourth $1,000.00 of taxable income, five per
cent 5%) on the fifth $1,000.00 of taxable income, six per cent
(6%) of all taxable income in excess of $5,000.00 COME, THREE
PER CENT (3%) ON THE SECOND $1,000.00 OF TAXABLE IN-
COME, FOUR PER CENT (4%) ON THE THIRD $1,000.00 OF
TAXABLE INCOME, AND FIVE PER CENT (5%) OF ALL
TAXABLE INCOME IN EXCESS OF $3,000.00.

[(b) There is hereby levied and imposed for the taxable year
1947 a tax on the net income of every corporation (domestic or
foreign) at the rate of one and one-half per cent (1½%) of such
portion thereof as is allocable to this State under the provisions
of Section 316 hereof.

(c) There is hereby annually levied and imposed for each year
beginning after December 31, 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 individual not a resident of this State. Such
tax shall be at the rate of two per cent (2%) of the first $500.00
of the net investment income subject to the tax imposed by this
subtitle and at the rate of five per cent (5%) on the balance of
the net investment income subject to the tax imposed by this sub-
title and at the rate of two per cent (2%) on the balance, if any,
of the taxable net income.

(c-1) There is hereby annually levied and imposed for each year
beginning after December 31, 1957 and before January 1, 1965, a
tax on the net income of every resident individual of this State
and on the net income, taxable in this State, of every individual
not a resident of this State. Such tax shall be at the rate of three
per cent (3%) of the first $500.00 of the net investment income
subject to the tax imposed by this subtitle and at the rate of five
per cent (5%) on the balance of the net investment income subject
to the tax imposed by this subtitle and at the rate of three per
cent (3%) on the balance, if any, of the taxable net income.