Section 8-208 – Tax Credit — for Tax Paid to Other State
A savings bank or savings and loan association doing business outside this State may claim a credit against the financial institution franchise tax equal to the amount paid to another jurisdiction as: (1) a tax based on savings accounts or saving share accounts bought in this State; (2) a tax on gross receipts from business done in […]
Section 8-209 – Returns and Declarations
(a) Each financial institution existing or doing business in the State during any part of the fiscal year of the financial institution shall complete, under oath, and file with the Department a financial institution franchise tax return on or before the 15th day of the 3rd month after the end of that fiscal year. (b) (1) Each financial […]
Section 7-232 – Certification of Payments
Each register shall certify to the Comptroller the amount of inheritance tax paid for each decedent for whom a Maryland estate tax return is filed with the register or for whom the register receives a request for the certification from: (1) the Comptroller; (2) the personal representative of the decedent’s estate; or (3) any person required to file […]
Section 7-406 – Tax Payment
The person required to pay the federal generation-skipping transfer tax shall pay the Maryland generation-skipping transfer tax to the Comptroller on or before the last day for filing a Maryland generation-skipping transfer tax return.
Section 7-233 – Payments, Commissions, and Reports
(a) Each month, each register shall pay into the State Treasury an amount equal to the inheritance tax collected in the preceding month, less the commission allowed in subsection (b) of this section. (b) A register is allowed a 25% commission on the inheritance tax collected. (c) Each month, each register shall file with the Comptroller an inheritance […]
Section 7.5-101 – Terms Defined
(a) In this title the following words have the meanings indicated. (b) “Annual gross revenues” means income or revenue from all sources, before any expenses or taxes, computed according to generally accepted accounting principles. (c) “Assessable base” means the annual gross revenues derived from digital advertising services in the State. (d) “Broadcast entity” means an entity that is primarily […]
Section 7-234 – Failure of Register to Remit Taxes
(a) If a register fails to account for and remit money as required under § 7-233 of this subtitle, then 30 days after the failure, the Comptroller shall notify the Attorney General to put the register’s bond in suit for the use of the State. (b) In a suit under this section, the State shall recover: (1) the […]
Section 7-302 – Imposition of Tax
Except as provided in § 7-303 of this subtitle, a tax is imposed on the transfer of the Maryland estate of each decedent who, at the time of death, was: (1) a resident of this State; or (2) a nonresident of this State whose estate includes any interest in: (i) real property permanently located in this State; or […]
Section 7-303 – Exemption
(a) Except as provided in subsection (b) of this section, the Maryland estate tax does not apply to the transfer of personal property in an estate of a nonresident decedent, if, at the time of death, the decedent is a resident of a state or foreign country whose law, when the personal property is transferred: (1) does […]
Section 7-304 – Amount of Tax
(a) Subject to § 7-309 of this subtitle, in this section, “federal credit” means the maximum credit for death taxes paid to any state that is allowable under § 2011 of the Internal Revenue Code against the federal estate tax of a decedent as reduced by the proportion that the amount of the estate not included […]