WILLIAM DONALD SCHAEFER, Governor                      H.B. 1324

10-815.

(a)     Except as provided in [subsection (b)] SUBSECTIONS (B) AND (C) of this
section, each individual who reasonably expects estimated income tax for a taxable year
on income not subject to withholding under Subtitle 9 of this title to exceed $100 shall file
a declaration of estimated income tax.

(b)     Unless withholding is required under § 10-906 of this title, each individual
who receives income of $500 or more in cash or property from wagering, including the
operation of a gambling machine or device and participation in an amusement,
educational, or advertising program, contest, lottery, or raffle, shall file a declaration of
estimated income tax.

(C) FOR ANY TAXABLE YEAR ENDING BEFORE THE DATE 2 YEARS AFTER
THE DATE OF THE DECEDENT'S DEATH, SUBSECTION (A) OF THIS SECTION DOES NOT
APPLY TO:

(1)      THE PERSONAL REPRESENTATIVE OF THE ESTATE OF THE
DECEDENT; OR

(2)      THE FIDUCIARY OF A TRUST:

(I)      ALL OF WHICH WAS TREATED AS OWNED BY THE DECEDENT
UNDER §§ 671 THROUGH 679 OF THE INTERNAL REVENUE CODE; AND

(II)     1. TO WHICH THE RESIDUE OF THE DECEDENT'S ESTATE
WILL PASS UNDER THE DECEDENT'S WILL; OR

2. IF A WILL IS NOT ADMITTED TO PROBATE, WHICH IS THE
TRUST PRIMARILY RESPONSIBLE FOR PAYING DEBTS, TAXES, AND EXPENSES OF
ADMINISTRATION OF THE DECEDENT'S ESTATE.

10-902.

(E) (1) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, A FIDUCIARY
MAY USE THE ANNUALIZATION METHOD AS ALLOWED FOR FEDERAL INCOME TAX
PURPOSES UNDER § 6654(D)(1)(C)(IV) AND (2)(B) OF THE INTERNAL REVENUE CODE
TO DETERMINE THE AMOUNT OF ESTIMATED TAX REQUIRED TO BE PAID.

(2) FOR PURPOSES OF THIS SUBSECTION, § 6654(D)(1)(C)(IV) AND (2)(B)(I)
OF THE INTERNAL REVENUE CODE SHALL BE APPLIED BY IN EACH INSTANCE
SUBSTITUTING "ENDING BEFORE THE DATE ONE MONTH BEFORE THE DUE DATE
FOR THE INSTALLMENT" FOR "ENDING BEFORE THE DUE DATE FOR THE
INSTRUMENT".

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1993 and shall be applicable to all taxable years beginning after December 31, 1991
1992.

May 27, 1993

The Honorable R. Clayton Mitchell, Jr.

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