Section 7-403 – Amount of Tax
The Maryland generation-skipping transfer tax is the amount of the federal credit.
Section 7-404 – Value of Property
The value of property included in a generation-skipping transfer is the same value as determined under Chapter 13 of the Internal Revenue Code.
Section 7-405 – Tax Return
(a) The person required to file a federal generation-skipping transfer tax return on which a federal credit is allowable shall complete and file a Maryland generation-skipping transfer tax return with the Comptroller on or before the last day for filing the federal return. (b) If, after a person files a Maryland generation-skipping transfer tax return, the federal […]
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 7-234 – 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 […]