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2007 Laws of Maryland
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Ch. 475
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13-409.
(a) If the Internal Revenue Service issues a final determination that
increases federal taxable income, federal estate, or federal generation-skipping
transfer tax reported on a federal return, the tax collector shall assess the financial
institution franchise tax, PUBLIC SERVICE COMPANY FRANCHISE TAX, income tax,
Maryland estate tax, or Maryland generation-skipping transfer tax on the increase in
the taxable net earnings, GROSS RECEIPTS, Maryland taxable income, federal credit
for State death tax, or federal credit for State generation-skipping transfer tax that
results from the federal adjustment.
(b) Within 90 days after the Internal Revenue Service issues to a person the
final determination to which subsection (a) of this section refers, the person shall
submit to the tax collector a report of federal adjustment that includes:
(1) a statement of the amount of the increase; and
(2) if the person contends that the final federal determination is
erroneous, an explanation of the reasons for the contention.
13-1001.
(F) A PERSON WHO IS REQUIRED TO FILE A PUBLIC SERVICE COMPANY
FRANCHISE TAX RETURN AND WHO WILLFULLY FAILS TO FILE THE RETURN AS
REQUIRED UNDER TITLE 8 OF THIS ARTICLE IS GUILTY OF A MISDEMEANOR AND
ON CONVICTION IS SUBJECT TO A FINE NOT EXCEEDING $5,000 OR
IMPRISONMENT NOT EXCEEDING 5 YEARS OR BOTH.
13-1002.
(a) A person who willfully files a false alcoholic beverage tax return is guilty
of perjury and, on conviction, is subject to the penalty for perjury.
(b) A person, including an officer of a corporation, who willfully files a false
financial institution franchise tax return, A FALSE PUBLIC SERVICE COMPANY
FRANCHISE TAX RETURN, or a false income tax return with the intent to evade the
payment of tax due under this article is guilty of perjury and, on conviction, is subject
to the penalty for perjury.
(c) Subsections (a) and (b) of this section apply to the alcoholic beverage,
financial institution franchise, PUBLIC SERVICE COMPANY FRANCHISE and
income taxes.
13-1101.
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- 2776 -
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