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LAWS OF MARYLAND

Ch. 812

312.

(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)] 80 percent 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] SECTION 318 [and 320] of this subtitle.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.

Approved May 17, 1976.

CHAPTER 813

(House Bill 1744)

AN ACT concerning

Income Tax — Refund of Taxes

FOR the purpose of allowing refunds of State income taxes
resulting from action on the taxpayer's federal
return, if a certain notice has been given to the
State Comptroller.

BY adding to

Article 81 — Revenue and Taxes

Section 310(g)

Annotated Code of Maryland

(1975 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 310(g) 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

310.

(G) IN THOSE INSTANCES WHERE A TAXPAYER'S INCOME
HAS BEEN DECREASED BY REASON OF A FEDERAL ADJUSTMENT OR