1770
LAWS OF MARYLAND
Ch. 157
(1) the rate of the tax;
(2) the applicability of the tax to articles of
transfer; and
(3) the legal authority for the tax.
[(e)] (D) (1) The Department shall:
(i) collect the county transfer tax imposed
under subsection (b) of this section; and
(ii) remit the tax collected promptly to the
Comptroller.
(2) From the revenue received, the Comptroller shall:
(i) deduct the cost to the Department of
collecting the county transfer tax under this section; and
(ii) distribute the remainder of the revenue to
the county in which the property that is transferred is located.
[(f)] (E) (1) Articles of transfer that are subject to a
county transfer tax under this section also may be taxable under
§ 12-102, § 13-202, or § 13-302 of this article.
(2) Before a transfer of title may be made under
articles of transfer for any property for which a property
certificate is required under § 3-112 of the Corporations and
Associations Article, the county transfer tax shall be paid.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:
Article - Tax - Property
13-404.
(a) Except as provided under [subsections (b) and (f)]
SUBSECTION (B) of this section, the Department shall collect
county transfer tax at the rate set by each county for articles
of transfer filed with the Department as required by § 3-107 of
the Corporations and Associations Article.
(b) Articles of transfer are not subject to county transfer
tax if the articles of transfer are for:
(1) a transfer of real property between a parent
corporation and its subsidiary corporation or between 2 or more
subsidiary corporations wholly owned by the same parent
corporation for:
|