Industrial Corp. v. State Tax Commission

Under the provisions of sections 8833 and 880 of Article 23 of the Code of Public General Laws every “ordinary business corporation” is subject to taxation upon its property, but is exempt from taxation on its shares of stock. For purposes of taxation ordinary business corporations are defined by section 8833 as “all corporations having a capital stock,” except certain classes of corporations therein designated, among which are “safe deposit and trust companies, guarantee and fidelity companies, insurance companies of all kinds,” “building or homestead associations, state, national and…