WILLIAM DONALD SCHAEFER, Governor

Ch. 2

In subsection (d) of this section, the former
reference to a "concurrent" interest is deleted as
included in the defined term "subsequent interest".

Defined terms: "Court" § 7-101
"Estate" § 7-201 "Inheritance tax" § 1-101
"Person" § 1-101 "Property" § 1-101
"Property that passes from a decedent" § 7-201
"Register" § 7-101 "Subsequent interest" § 7-201

7-218. ALTERNATIVE PAYMENT SCHEDULE.

(A)  "SMALL BUSINESS" DEFINED.

IN THIS SECTION, "SMALL BUSINESS"   MEANS A FIRM THAT:

(1)  IS INDEPENDENTLY OWNED  AND OPERATED;

(2)  IS NOT A SUBSIDIARY OF  ANOTHER FIRM;

(3)  IS NOT DOMINANT IN ITS   FIELD OF OPERATION; AND

(4)  IN ITS MOST RECENTLY COMPLETED FISCAL YEAR, DID
NOT EMPLOY IN ITS OPERATIONS MORE THAN 25 INDIVIDUALS.

(B)  IN GENERAL.

ON APPLICATION OF A PERSON RESPONSIBLE FOR PAYING THE
INHERITANCE TAX AND SUBJECT TO § 13-601 OF THIS ARTICLE, THE
COMPTROLLER MAY ALLOW AN ALTERNATIVE PAYMENT SCHEDULE FOR THE
INHERITANCE TAX, NOT EXCEEDING A 5-YEAR PERIOD, IF PAYMENT OF THE
TAX ON THE DUE DATE WOULD REQUIRE THE SALE OF A SMALL BUSINESS OR
ANY INTEREST IN A SMALL BUSINESS THAT PASSES FROM A DECEDENT.

(C)  APPLICATION.

A PERSON MAY APPLY FOR AN ALTERNATIVE PAYMENT SCHEDULE BY
FILING WITH THE COMPTROLLER AN APPLICATION ON THE FORM AND IN THE
MANNER THAT THE COMPTROLLER REQUIRES.

(D)  FORM OF SCHEDULE.

THE PAYMENT SCHEDULE MAY BE IN THE FORM OF:

(1)  A PAYMENT DEFERRAL; OR

(2)  AN INSTALLMENT PAYMENT PLAN.

(E)  ACTION BY COMPTROLLER.

(1) FOR EACH ALTERNATIVE PAYMENT SCHEDULE ALLOWED
UNDER SUBSECTION (B) OF THIS SECTION, THE COMPTROLLER SHALL
SPECIFY THE PROCEDURES AND GUIDELINES, INCLUDING:

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