80 Md. 448 | Md. | 1895
delivered the opinion of the Court.
Whether the appellant is liable for the franchise tax* or bonus imposed by the Act of 1890, ch. 536, is the sole question involved in this proceeding. The appellant is a body corporate, incorporated on July the thirtieth, 1891, under the general incorporation law, and its capital stock was limited by its charter to one million of dollars. The Act of 1890, which adds a new section to the Code, prescribes that “ every corporation incorporated since January first, eighteen hundred and ninety, under any general or special law of this State, except cemetery companies, &c., shall pay to the State Treasurer, for the use of the State, a bonus of one-eighth of one per centum upon the amount of capital stock which said company is authorized to have,” &c., &c. This act was approved and became effective on-April the eighth, 1890. The contention of the appellant is that this statute is only applicable to corporations formed
Looking to the object which the Legislature had in view in passing this Act, and considering the important circumstance that they carefully incorporated its provisions in the Code as a part of the revenue system, under the sub-title, “ payment of taxes by corporations,” we think the true reading of the statute includes all corporations formed after January the first, 1890, except those specially excluded, and that the enactment is not confined to those formed betweén that date and April the eighth of the same year. That this is what the Legislature meant, is made more apparent by the Act of 1894, ch. 114. By this act other classes of corporations besides those' excluded by the Act of 1890, were exempted from paying the bonus, and it was' specifically provided that no corporation incorporated prior to the date of the Act of 1894, “ shall in any manner by this act (the Act of 1894), be relieved or released from the payment of any bonus now due and owing by it, or which shall become due and payable by it prior to the date of the passage of this act, under the provisions of ch. 536 of 1890.” If the Act of 1890 was intended to apply only to corporations formed between January, the first and April the eighth, 1890, there was no necessity for enlarging, by the Act of 1894, the classes of corporations exempted from paying the bonus.
The Court below gave to the Act of 1890 the same construction that we have placed upon it, and its judgment in favor of the State for the bonus due by the appellant will therefore be affirmed.
Judgment affirmed with costs above and below.