54

LAWS OF MARYLAND

Ch. 8

The present description in Art. 81, § 2(7) as to where
partnership property is taxable is omitted as
superfluous.

Defined term: "Corporation" § 1-101

(X), PRINCIPAL OFFICE OF A DOMESTIC CORPORATION.

"PRINCIPAL OFFICE OF A DOMESTIC CORPORATION" MEANS:

(1)  THE OFFICE IN THE STATE WHERE THE BUSINESS OF THE
CORPORATION IS DIRECTED AND MANAGED;

(2)  IF THERE IS NO OFFICE IN THE STATE WHERE THE
BUSINESS IS DIRECTED AND MANAGED, THE PLACE IN THE STATE WHERE
THE PRINCIPAL BUSINESS OF THE CORPORATION IN THE STATE IS
TRANSACTED; OR

(3)  IF THERE IS NO OFFICE OR PLACE THAT MEETS THE
REQUIREMENTS OF ITEMS (1) OR (2) OF THIS SUBSECTION, THE
PRINCIPAL OFFICE NAMED IN THE CORPORATION CHARTER OR REPORTED TO
THE DEPARTMENT.

REVISOR'S NOTE: This subsection is new language that
repeats the provisions of present Art. 81, § 2(18).

The defined term is changed from the present term
"principal office" to "principal office of a domestic
corporation", for clarity.

Defined terms: "Corporation" § 1-101
"Department" § 1-101

(Y) PRINCIPAL OFFICE OF A FOREIGN CORPORATION IN THE STATE.

"PRINCIPAL OFFICE OF A FOREIGN CORPORATION IN THE STATE"
MEANS THE PLACE IN THE STATE WHERE THE PRINCIPAL BUSINESS OR
OPERATION OF THE CORPORATION IN THE STATE IS CARRIED ON.

REVISOR'S NOTE: This subsection is new language that
repeats the provisions of present Art. 81, § 2(19).

The defined term is changed from the present term
"principal office in this State" to "principal ' office
of a foreign corporation in the State", for clarity.

Defined term: "Corporation" § 1-101

(Z) PROPERTY.

"PROPERTY" MEANS REAL PROPERTY AND PERSONAL PROPERTY.

REVISOR'S NOTE: This subsection is new language added for
clarity.