STATE DEPARTMENT OF ASSESSMENT AND TAXATION

301 West Preston Street

BALTIMORE 1, MARYLAND

January 31, 1961

THE HONORABLE J. MILLARD TAWES, Governor, and
The General Assembly of Maryland:

Pursuant to the provisions of Article 81, Section 232 (12) of the Mary-
land Code (1957 Ed., as amended), we herewith submit the Twenty-
third Biennial Report of the Department of Assessments and Taxation
(successor to the State Tax Commission) covering the years 1959 and
1960.

The period covered is particularly significant because it included the
transition from the State Tax Commission, performing in its dual capac-
ity, to the State Department of Assessments and Taxation and the Mary-
land Tax Court. The change has been accomplished smoothly, and the
disassociation of the assessing and the appellate functions is proving to
be beneficial to both the State and the taxpayer. A report showing the
number of appeals to the Maryland Tax Court and their disposition
is included in this report.

There has been continued growth in the number of corporations
chartered in Maryland as well as an increase in the number of foreign
companies who have qualified to do business here. These increases can
be seen by comparing the number of corporations in each class as shown
elsewhere in this report. The 1960 total of 37,595 corporations shows an
increase of 8% over the 1959 total and is a new high for the Depart-
ment. It is of interest to note that Building and Loan Associations
increased 32% from 494 in 1959 to 652 in 1960. Domestic stock cor-
porations increased at an 8% rate, and foreign ordinary businesses at a
13% rate.

The report also contains in Tables A, B, C and D the assessable basis
for the biennium covered as well as other statistical information pertain-
ing to the work of the Department.

Respectfully submitted,
ALBERT W. WARD
Director