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 7-211 – Election for Special Valuation
(a) The person responsible for paying the inheritance tax may elect to value real property, for purposes of the inheritance tax: (1) at its most recent real property assessment plus any inflation allowance if, for the 5 years immediately before the date of the death of the decedent, the real property qualifies under § 8-209 or § […]
Section 7-214 – Determinations by Register
(a) The register in the county where the court that administers an estate is located shall determine the inheritance tax that is due on any interest in property included in the estate when the personal representative of the decedent accounts for the distribution of the property. (b) If there is no formal administration of an estate, the […]
Section 7-215 – Tax Payment in General
The person responsible under § 7-216 of this subtitle for paying the inheritance tax shall pay it to the register who determines the inheritance tax under § 7-214 of this subtitle.