Martin O'Malley, Governor

Ch. 6

(2) The credit allowed under this section does not apply to any sales
and use tax that a vendor is required to pay to the Comptroller for any purchase or use
that the vendor makes that is subject to the tax.

(II) THE TOTAL MAXIMUM CREDIT THAT THE VENDOR IS
ALLOWED UNDER THIS SECTION FOR ALL RETURNS FILED FOR ANY PERIOD IS

300.

[(c) From July 1, 2004 through June 30, 2006:

(1) the credit allowed under subsection (a) of this section is 0.45% of
the gross amount of sales and use tax that the vendor is to pay to the Comptroller; and

(2) the credit allowed under subsection (b) is:

(i) 0.6% of the first $6,000 of the gross amount of sales and use
tax that the vendor is to pay with each return; or

(ii) for a vendor described in subsection (b)(2) of this section,
0.6% of the first $6,000 of the gross amount of sales and use tax that the vendor is or
would be required to pay with the consolidated return.]

11-301.

The sales and use tax is computed on:

(1)       the taxable price of each separate sale:

(2)       if a combined sale is made, the combined taxable price of all retail
sales on the same occasion by the same vendor to the same buyer; or

- 273 -

(b) (1) Subject to paragraph (2) of this subsection, the credit allowed
under this section is 1.2% of the first $6,000 of the gross amount of sales and use tax
that the vendor is to pay with each return.

(2) For a vendor who files or is eligible to file a consolidated return
under § 11-502 of this title [,]:

(I) the credit allowed under paragraph (1) of this subsection is
1.2% of the first $6,000 of the gross amount of sales and use tax that the vendor is or
would be required to pay with the consolidated return; AND