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LAWS OF MARYLAND

[Ch. 415

Section 318

Annotated Code of Maryland

(1969 Replacement Volume and 1974 Supplement)

BY adding to

Article 81 — Revenue and Taxes

Section 318

Annotated Code of Maryland

(1969 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 318 of Article 81 — Revenue and
Taxes, of the Annotated Code of Maryland (1969
Replacement Volume and 1974 Supplement) be and it is
hereby repealed[[.]]:

[318.

If taxes imposed by this subtitle be not paid when
due, as provided herein, the taxpayer liable to such tax
shall pay as a penalty, in addition to the amount of such
tax, such additional tax as may be required by the
Comptroller not exceeding ten percent (10%) of such
amount, plus one—half of one percent (1/2%) for each
month the tax or additional tax remains unpaid.]

SECTION 2. AND BE IT FURTHER ENACTED, That new

Section 318 be and it is hereby added to Article 81 —
Revenue and Taxes, of the Annotated Code of Maryland
(1969 Replacement Volume and 1974 Supplement) to read as
follows:

Article 81 — Revenue and Taxes

318.

IF ANY TAX IMPOSED BY THIS SUBTITLE IS NOT PAID WHEN
DUE, THE TAXPAYER WHO IS LIABLE FOR ITS PAYMENT SHALL PAY
AN ADDITIONAL TAX AS A PENALTY. THE PENALTY MAY NOT
EXCEED 10 PERCENT OF THE TAX DUE, PLUS [[1/2]] INTEREST
AT THE RATE OF 3/4 PERCENT OF THE TAX DOE FOR EACH MONTH
THE TAX REMAINS UNPAID. NO INTEREST MAY BE ASSESSED ON
THE TAX WHICH IS DUE AS A PENALTY.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975, and shall apply to all
tax years beginning on and after January 1, 1975.