Ch. 175

LAWS OF MARYLAND

Section 13-1104(c)
Annotated Code of Maryland
(1988 Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - General

13-1104.

[(c) (1) Except as provided in paragraph (2) of this
subsection, a claim for refund of financial institution franchise
tax or income tax for a period may not be filed after 3 years
from the date on which the return covering the period is due.

(2) If, within 3 years from the due date of a return
for a taxable year, a person files a protective claim or
otherwise gives the tax collector notice of a pending federal
audit or federal claim for refund with respect to that year, a
claim for refund for that year, based on a federal adjustment or
federal claim for refund, may be filed at any time.]

(C)(1) A CLAIM FOR REFUND OR CREDIT OF OVERPAYMENT OF
FINANCIAL INSTITUTION FRANCHISE TAX OR INCOME TAX MAY NOT BE

FILED LATER THAN:

(I) 3 YEARS FROM:

1. THE DATE THE RETURN WAS DUE TO BE
FILED; OR

2. THE DUE DATE OF THE RETURN FOR THE
LOSS YEAR IN THE CASE OF A NET OPERATING LOSS CARRYBACK BASED ON
THE INTERNAL REVENUE CODE; OR

(II) 2 YEARS FROM THE DATE OF:

1. PAYMENT OF THE TAX;

2. FINAL ADJUSTMENT REPORT OF THE

INTERNAL REVENUE SERVICE; OR

3. FINAL DECISION OF THE UNITED STATES
TAX COURT.

(2) A CLAIM FOR REFUND OR CREDIT FILED MORE THAN 3
YEARS FROM THE DATE THE RETURN WAS DUE TO BE FILED IS LIMITED TO
THE GREATER OF:

(I) THE TAX PAID WITHIN 2 YEARS OF FILING THE
CLAIM; OR

- 1988 -