Marvin Mandel, Governor                         793

(b)   In the case of a railroad corporation incorporated under
the laws of this State and under the laws of one or more other states,
the annual tax for its franchise to be a corporation shall be based
upon such proportion of its capital as the all track mileage of such
railroad within this State bears to the all track mileage of such
railroad within and without this State.

(c)  The word "capital" as used in this section means the issued
capital stock plus paid in or capital surplus by whatever name
called, as of the thirty-first day of December in each year in
the case of a corporation keeping its books on a calendar year basis,
and as of the last day of its fiscal year other than the calendar year.

(d)   Every domestic building, savings and loan or homestead
association, every savings bank, as defined in Section 128 of this
article, and every credit union shall pay annually for the use of the
State, in addition to any other tax imposed by law, a tax of $10 for
its franchise to be a corporation.]

[198.

(a)  Every domestic corporation subject to the annual franchise
tax imposed by Section 197 shall file with the State Department of
Assessments and Taxation an annual franchise tax report which
shall be in such form, and be verified in such manner, and contain
such information as may be prescribed by regulations of the State
Department of Assessments and Taxation. Such report shall be filed
on or before the fifteenth day of April in each and every year and as
of the preceding thirty-first day of December in the case of a cor-
poration keeping its books on a calendar year basis, or a corporation
not required to file an income tax return under this article, and on
or before the fifteenth day of the fourth month after the close
of its fiscal year and as of the last day of its fiscal year in the case
of a corporation keeping its books on the basis of a fiscal year other
than the calendar year, and required to file an income tax return
under this article. Such annual report shall be filed on the basis of
the same fiscal or calendar year as is used by such corporation for in-
come tax returns under this article, and such calendar year basis
may be changed to a fiscal year basis, or a fiscal year basis changed
to a calendar year basis, or one fiscal year basis changed to an-
other fiscal year basis, only in accordance with regulations of the
State Department of Assessments and Taxation.

(b)  The annual franchise tax imposed by Section 197, as the same
shall appear from the face of the report herein required to be filed,
shall be paid to the State Department of Assessments and Taxation
at the time fixed for the filing of such report. If such tax is not
paid when the report is required to be filed the corporation liable
for such tax shall pay as a penalty, in addition to the amount of
such tax, such additional tax as may be required by the State
Department of Assessments and Taxation not exceeding ten per-
cent of such amount plus one half of one percent for each month
or fraction of a month the franchise tax or additional tax remains
unpaid. In the event additional amounts are found to be due after
the report has been filed, such amounts shall be subject to interest
at six percent per annum from the date the report was required to
be filed until payment is actually made to the State Department of
Assessments and Taxation.]