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Ch. 225 2006 LAWS OF MARYLAND
ALLOWED AS A DEDUCTION OR AS AN OFFSET AGAINST THE SALES PRICE OF
PROPERTY IN DETERMINING GAIN OR LOSS IF THE AMOUNT HAS BEEN ALLOWED AS
A DEDUCTION IN COMPUTING THE FEDERAL TAXABLE INCOME OF THE ESTATE OR
OF ANY OTHER PERSON.
13-601.
(d) Interest on unpaid Maryland estate tax begins 9 months after the date of
the death of a decedent and applies to ALL MARYLAND ESTATE tax that is not paid by
that date, including[:
(1) an increase in Maryland estate tax due to a change in federal estate
tax made after a payment of Maryland estate tax: and
(2)] a payment made in accordance with an alternative payment
schedule.
13-716,
(A) THE COMPTROLLER SHALL ASSESS A PENALTY OF 25% OF THE AMOUNT OF
THE UNDERPAYMENT OF TAX WHICH IS ATTRIBUTABLE TO ANY SUBSTANTIAL
ESTATE TAX VALUATION UNDERSTATEMENT.
(B) FOR PURPOSES OF THIS SECTION. THERE IS A SUBSTANTIAL ESTATE TAX
VALUATION UNDERSTATEMENT IF THE VALUE OF ANY PROPERTY CLAIMED. OR THAT
SHOULD HAVE BEEN CLAIMED. ON ANY RETURN OF TAX IMPOSED BY TITLE 7,
SUBTITLE 3 OF THIS ARTICLE IS 60% OR LESS OF THE AMOUNT DETERMINED TO BE
THE CORRECT AMOUNT OF THAT VALUATION.
(C) A PENALTY MAY NOT BE IMPOSED UNDER SUBSECTION (A) OF THIS
SECTION UNLESS THE PORTION OF THE UNDERPAYMENT ATTRIBUTABLE TO
SUBSTANTIAL ESTATE TAX VALUATION UNDERSTATEMENT IS GREATER THAN $5,000.
13-1101,
(a) Except as otherwise provided in this section, an assessment of financial
institution franchise tax [or], income tax. OR ESTATE TAX may not be made after 3
years from the later of:
(1) the date that the return is filed; or
(2) the date that the return is due.
(b) An assessment of financial institution franchise tax [or], income tax, OR
ESTATE TAX may be made at any time if:
(1) a false return is filed with the intent to evade the tax;
(2) a willful attempt is made to evade the tax;
(3) a return is not filed as required under TITLE 7, Title 8, or Title 10 of
this article;
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