MARVIN MANDEL, Governor

1063

AN ACT concerning

Retail Sales Tax — Interest

FOR the purpose of increasing the interest assessed upon
retail sales taxes due under certain circumstances,
and correcting certain language.

BY repealing and re-enacting, with amendments,

Article 81 — Revenue and Taxes

Section 344(a) and 345

Annotated Code of Maryland

(1969 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 344(a) and 345 of Article 81 -
Revenue and Taxes, of the Annotated Code of Maryland
(1969 Replacement Volume and 1974 Supplement) be and it
is hereby repealed and re—enacted, with amendments, to
read as follows:

Article 81 — Revenue and Taxes

344.

fa) (Whenever] IF a taxpayer fails to file any
return [and/or] OR pay the tax when due as required by
this subtitle, there shall be assessed against him, in
addition to the tax due, a penalty of ten percent (10%)
of the tax due, plus interest at the rate of [one half of
one percent (1/2 of 1%) ] THREE-QUARTERS OF ONE PERCENT
per month or fraction of a month from the time the tax
was due until paid.

345.

[ Whenever] IF the Comptroller [shall find] FINDS
from an examination of the returns or records of any
taxpayer or otherwise that [such] THE taxpayer has
[theretofore] filed an incorrect return and paid less
than the amount of the tax due under this subtitle, he
shall levy a deficiency assessment against [such] THE
taxpayer. [Such] THE assessment shall include the amount
of [such] THE deficiency, as found by the Comptroller,
plus one of the following amounts:

(1) If the Comptroller finds that the deficiency
was not due to an attempt to defraud, there shall be
added a penalty of ten percent (10%), plus interest at