Ch. 1

1.992 LAWS OF MARYLAND

Article - Tax - General

8-209.

(b) (1) Each financial institution that reasonably expects its financial institution
franchise tax for a year to exceed $1,000 shall complete, under oath, and file with the
Department a declaration of estimated tax, on or before the [1st] 15TH day of the [6th]
4TH month of the accounting period used as the fiscal year of the financial institution.

(2) A FINANCIAL INSTITUTION REQUIRED UNDER PARAGRAPH
(1) OF THIS SUBSECTION TO FILE A DECLARATION OF ESTIMATED TAX
FOR A TAXABLE YEAR SHALL COMPLETE AND FILE WITH THE
DEPARTMENT A QUARTERLY ESTIMATED TAX RETURN ON OR BEFORE
THE 15TH DAY OF THE 6TH, 9TH, AND 12TH MONTHS OF THAT YEAR.

8-210.

(a)     Except as provided in subsection (b) of this section, a financial institution shall
pay the financial institution franchise tax with the return that covers the period for which
the tax is due.

(b)     Each financial institution required to file [a declaration of] QUARTERLY
estimated financial institution franchise tax RETURNS shall pay [with the declaration at
least 50% of the tax estimated as due]:

(1)     AT LEAST 25% OF THE ESTIMATED FINANCIAL INSTITUTION
FRANCHISE TAX SHOWN ON THE DECLARATION OR AMENDED
DECLARATION FOR A TAXABLE YEAR:

(I)     WITH THE DECLARATION OR AMENDED
DECLARATION THAT COVERS THE YEAR; AND

(II)    WITH EACH QUARTERLY RETURN FOR THAT YEAR;
AND

(2)     ANY UNPAID FINANCIAL INSTITUTION FRANCHISE TAX FOR
THE YEAR SHOWN ON THE FINANCIAL INSTITUTION FRANCHISE TAX
RETURN THAT COVERS THAT YEAR, WITH THE RETURN.

8-404.

(b) (1) Each public service company that reasonably expects its public service
company franchise tax for a year to exceed $1,000 shall complete, under oath, and file
with the Department a declaration of estimated tax, on or before [June 1] APRIL 15 of
that year.

(2) A PUBLIC SERVICE COMPANY REQUIRED UNDER
PARAGRAPH (1) OF THIS SUBSECTION TO FILE A DECLARATION OF
ESTIMATED TAX FOR A TAXABLE YEAR SHALL COMPLETE AND FILE WITH
THE DEPARTMENT A QUARTERLY ESTIMATED TAX RETURN ON OR
BEFORE JUNE 15, SEPTEMBER 15, AND DECEMBER 15 OF THAT YEAR.

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