- (a) Except for a property tax, a county or municipal corporation of the State may not impose a tax on a person subject to taxation under this subtitle.
- (b) This section does not exempt shares of stock of a domestic corporation from the property tax and assessment merely because the shares are owned by a person subject to taxation under this subtitle.
Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1995, c. 352, § 10, eff. Oct. 1, 1997.
Formerly Art. 48A, § 640.