418

LAWS OF MARYLAND

Ch. 8

"advance payments", is deleted as superfluous.

Also in subsection (a) of this section, the word
"levied", which described the tax, is deleted as
superfluous.

In subsection (b) of this section, the reference to
the "advance payment is calculated" is added for
clarity.

The second clause of the second sentence of former
Art. 81, § 49, which referred to refunds of
overpayments, now appears in § 14-906 of this article.

Defined terms: "Assessment" § 1-101

"Collector" § 1-101 "County" § 1-101

"County property tax" § 1-101 "Governing body" § 1-101

"Law" § 1-101 "Property" § 1-101

10-206. ADVANCE PAYMENTS -- CORPORATIONS.

(A)  IN GENERAL.

IF A CORPORATION SUBMITS ARTICLES OF DISSOLUTION TO THE
DEPARTMENT, THE DEPARTMENT SHALL IMMEDIATELY CERTIFY TO THE
COLLECTOR THE ASSESSMENT OF ANY PERSONAL PROPERTY OF THE
CORPORATION THAT - IS SUBJECT TO PROPERTY TAX ON THE MOST RECENT
DATE OF FINALITY.

(B)  CALCULATION OF PAYMENT.

THE COLLECTOR SHALL SEND TO THE CORPORATION A PERSONAL
PROPERTY TAX BILL THAT IS CALCULATED BY APPLYING THE CURRENT
PROPERTY TAX RATES TO THE ASSESSMENT THAT IS DETERMINED UNDER
SUBSECTION (A) OF THIS SECTION.

(C)  BILLING IF UNDERPAYMENT.

IF THE PROPERTY TAX PAYMENT IS LESS THAN THE PROPERTY TAX AS
FINALLY DETERMINED, THE COLLECTOR SHALL SEND A BILL TO THE
TAXPAYER FOR THE DIFFERENCE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first and second
sentences of former Art. 81, § 49A and the third
sentence, as it related to billing for an undercharge.

In subsections (a) and (b) of this section, the
defined term "collector" is substituted for the former
references to "local tax collector" and "local
collector", for clarity.

In subsection (a) of this section, the defined term
"property tax" is substituted for the former reference
to "State, county and city taxation", for clarity.