§ 9-306. Determination and announcement of average annual retail price and sales and use tax eq...
West's Annotated Code of MarylandTax-GeneralEffective: December 1, 2015
Effective: December 1, 2015
MD Code, Tax - General, § 9-306
§ 9-306. Determination and announcement of average annual retail price and sales and use tax equivalent rate
(b) On or before December 1, 2015, June 1, 2016, and June 1 of each subsequent year, the Comptroller shall determine and announce:
(c)(1) The sales and use tax equivalent rate shall be added to the motor fuel tax rates specified in § 9-305(a)(2), (3), and (5) of this subtitle and collected in the same manner as the motor fuel tax.
(d) The Comptroller shall determine the average annual retail price of motor fuel:
(e) The Comptroller shall determine the sales and use tax equivalent rate by:
(f) The percentage rate used to calculate the sales and use tax equivalent rate shall be:
(g) The Comptroller shall require any person possessing tax-paid motor fuel for sale at the start of business on the date of an increase in the sales and use tax equivalent rate under this section to compile and file an inventory of the motor fuel held at the close of business on the immediately preceding date and remit within 30 days any additional tax that is due on the motor fuel under this section.
Credits
Added by Acts 2013, c. 429, § 2, eff. June 1, 2013. Amended by Acts 2013, c. 429, § 5, eff. Dec. 1, 2015.
MD Code, Tax - General, § 9-306, MD TAX GENERAL § 9-306
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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