Section 8-301 – Imposition of Tax
(a) For all taxable years beginning before January 1, 2001, a franchise tax, measured by deposits held in the State, is imposed, for each calendar year, on each savings and loan association. (b) For all taxable years beginning after December 31, 2000, the savings and loan association franchise tax is terminated.
Section 8-302 – Tax Rate
The savings and loan association franchise tax rate is 0.013% of the total withdrawal value of the deposits that a savings and loan association holds in the State on December 31st.
Section 8-303 – Credit for Other Taxes
A savings and loan association organized under the laws of this State and doing business outside this State may claim a credit against the savings and loan association franchise tax in an amount that equals any tax paid to another jurisdiction as a franchise tax on deposits held in this State.
Section 8-304 – Returns
Each savings and loan association that, on December 31, holds deposits in the State shall complete, under oath, and file with the Comptroller a savings and loan association franchise tax return, on or before April 15 of the next year.
Section 8-305 – Tax Payment
A savings and loan association shall pay the savings and loan association franchise tax with the return that covers the period for which the tax is due.
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 8-210 – Tax Payment
(a) Except as provided in subsection (b) of this section, a financial institution shall pay the financial institution franchise tax with the return that covers the period for which the tax is due. (b) Each financial institution required to file quarterly estimated financial institution franchise tax returns shall pay: (1) at least 25% of the estimated financial institution […]
Section 8-211 – Administration by Department
The Department shall: (1) administer the laws that relate to the financial institution franchise tax, consistent with this subtitle and with Title 10 of this article; (2) adopt reasonable regulations to administer the provisions of laws that relate to the financial institution franchise tax, including regulations that establish, without regard to the methods required under Title 10 […]
Section 8-212 – Certifications for Payment of Refunds
If a financial institution franchise tax refund claim under § 13-901 of this article is allowed, the Department shall certify the amount to the Comptroller for payment.
Section 8-214 – Credit for Wages Paid Pursuant to Title 6, Subtitle 3 of the Economic Development Article
A financial institution may claim a credit against the financial institution franchise tax for wages paid to qualified employees as provided under Title 6, Subtitle 3 of the Economic Development Article.