584                             LAWS OF MARYLAND                     [CH. 165

liability shall extend and be applicable to any officer or agency of the
corporation, who as such officer or agent is under a duty to withhold
the tax and transmit the same to the Comptroller as required here-
under; and any sum or sums withheld in accordance with the pro-
visions of this section shall be deemed to be held by the employer in
trust for the State of Maryland and by such employer recorded in a
ledger account so as clearly to indicate the amount of tax withheld
and that such amount is the property of the State of Maryland.

(5) Failure to make any return required by this section to the
Comptroller or failure either to withhold the required tax or to pay it
to the Comptroller as specified, or both, shall be deemed to be a mis-
demeanor, punishable upon conviction by a fine of not exceeding five
hundred dollars ($500.00) or imprisonment for not exceeding six
months, or both, in the discretion of the court and in addition thereto
such unpaid tax shall constitute a lien in favor of the State of Mary-
land to the extent provided in Section 322 of this subtitle recoverable
in the manner therein prescribed or in the manner prescribed in
Sections 206 to 211, inclusive, of this article.

(n) (1) For all taxable years beginning after December 31,
1970, every corporation subject to taxation under this subtitle shall
be required to make a declaration of its estimated tax when its total
tax for the current taxable year can reasonably be expected to exceed
$1,000.00.

(2)    The declaration of estimated tax required under subsection
(1) shall be filed on or before the first day of the sixth month follow-
ing the beginning of the taxable year, at which time not less than
fifty (50) per cent of the tax so estimated is due and payable.

(3)    After crediting the amount paid on the declaration, the bal-
ance of tax due for the current taxable year shall be paid with the
corporate income tax return on or before the fifteenth (15th) day of
the fourth month following the close of the taxable year.

(o) If any corporation or individual required under this section
to file a declaration of estimated tax for any taxable year either
(1) fails to file on the date or dates heretofore prescribed, (2) fails
to pay the installment or installments when due, or (3) estimates a
tax less than eighty (80) per cent of the developed tax shown on the
return for the current taxable year and which estimate was less than
the tax paid for the prior year, such corporation or individual shall
be subject to the fines, penalties and interest as provided in Sections
318 and 320 of this subtitle.

Sec. 2. And be it further enacted, That this Act shall take effect
January 1, 1970 and that the Section 312(h) as hereby amended
shall apply with respect to the filing of returns and payment of taxes
required to be deducted and withheld from wages paid on and after
Ja