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MARVIN MANDEL, Governor
1071
UNDER THIS SUBTITLE SHALL MAKE A DECLARATION OF ITS
ESTIMATED TAX IF ITS TOTAL TAX FOR THE CURRENT TAXABLE
YEAS REASONABLY MAY BE EXPECTED TO EXCEED $1,000.
THE DECLARATION OF ESTIMATED TAX SHALL BE FILED WITH
THE DIRECTOR OF THE STATE DEPARTMENT OF ASSESSMENTS AND
TAXATION ON OR BEFORE THE FIRST DAY OF THE SIXTH MONTH
FOLLOWING THE BEGINNING OF THE INSTITUTIONS'S TAXABLE
YEAR, AT WHICH TIME NOT LESS THAN 50 PERCENT OF THE TAX
SO ESTIMATED FOR THE FULL TAXABLE YEAR IS DUE AND
PAYABLE.
SECTION 3. AND BE IT FURTHER ENACTED, That Sections
128A(e) and (f) , respectively, of Article 8 1 - Revenue
and Taxes, of the Annotated Code of Maryland (1975
Replacement Volume and 1975 Supplement) be and they are
hereby renumbered to be Sections 128A(f) and (g) ,
respectively.
SECTION 4. AND BE IT FURTHER ENACTED, That new
Section 130A be and it is hereby added to Article 81 —
Revenue and Taxes, of the Annotated Code of Maryland
(1975 Replacement Volume and 1975 Supplement) to read as
follows:
Article 81 — Revenue and Taxes
130A.
(A) FOR ALL TAXABLE YEARS BEGINNING AFTER JUNE 30,
1976, EVERY TAXPAYER SUBJECT TO TAXATION UNDER THIS
SUBTITLE SHALL MAKE A DECLARATION OF ITS ESTIMATED TAX IF
ITS TOTAL TAX FOR THE CURRENT TAXABLE YEAR REASONABLY MAY
BE EXPECTED TO EXCEED $1,000.
(B) THE DECLARATION OF ESTIMATED TAX SHALL BE
FILED WITH THE STATE DEPARTMENT OF ASSESSMENTS AND
TAXATION ON OR BEFORE THE FIRST DAY OF JUNE OF THE
CURRENT TAXABLE YEAR, AT WHICH TIME NOT LESS THAN 50
PERCENT OF THE TAX SO ESTIMATED FOR THE FULL TAXABLE YEAR
IS DUE AND PAYABLE.
SECTION 5. AND BE IT FURTHER ENACTED, That Sections
131 and 133 of Article 81 — Revenue and Taxes, of the
Annotated Code of Maryland (1975 Replacement Volume and
1975 Supplement) be and they are hereby repealed and
reenacted, with amendments, to read as follows:
Article 81 - Revenue and Taxes
131.
Every taxpayer subject to the tax imposed by § 130
shall on or before the fifteenth day of March in each
year make a report under oath of its president, treasurer
or other proper officer, to the State Department of
Assessments and Taxation showing its total receipts
accruing from business done in this State for the year
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