1. (a) The rate of the franchise tax imposed under § 8-402 of this subtitle is 2% of gross receipts derived from business in the State.

2. (b) The rate of the tax imposed under § 8-402.1 of this subtitle is:

   1. (1) 0.062 cents for each kilowatt hour of electricity delivered by the public service company for final consumption in the State; and
   2. (2) 0.402 cents for each therm of natural gas delivered by the public service company for final consumption in the State.

Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989. Amended by Acts 1999, c. 5, § 1, eff. Jan. 1, 2000; Acts 1999, c. 6, § 1, eff. Jan. 1, 2000.

Formerly Art. 81, § 130.