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§ 2-611. Overpayment or underpayment of local income tax to county or municipal corporation

West's Annotated Code of MarylandTax-GeneralEffective: July 1, 2017

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 2. Administration by Comptroller (Refs & Annos)
Subtitle 6. Income Tax Revenue Distribution (Refs & Annos)
Part II. Distribution of Income Tax Revenue from Individuals (Refs & Annos)
Effective: July 1, 2017
MD Code, Tax - General, § 2-611
§ 2-611. Overpayment or underpayment of local income tax to county or municipal corporation
Account
(a) In this section, “account” means the Local Reserve Account established to comply with § 2-606 of this subtitle.
Application
(b) This section applies to a county or municipal corporation that receives an overpayment or underpayment of local income tax revenue from the Comptroller.
Underpayment of income tax
(c) After reviewing income tax revenue distributions to a county or municipal corporation, if the Comptroller determines that the county or municipal corporation received an underpayment of income tax, the Comptroller shall initially pay the amount due to the county or municipal corporation from the account.
Overpayment of income tax
(d) After reviewing income tax revenue distributions to a county or municipal corporation, if the Comptroller determines that the county or municipal corporation received an overpayment of income tax, the Comptroller may not require the county or municipal corporation to reimburse the account for its share of the overpayment.
Full accounting of income tax returns
(e) A determination by the Comptroller under this section that a county or municipal corporation received an underpayment or overpayment of income tax shall be based on a full accounting of income tax returns for the taxable year for which the county or municipal corporation received the underpayment or overpayment.

Credits

Added by Acts 2016, c. 24, § 1, eff. Oct. 1, 2016. Amended by Acts 2017, c. 698, § 1, eff. July 1, 2017; Acts 2017, c. 699, § 1, eff. July 1, 2017.
MD Code, Tax - General, § 2-611, MD TAX GENERAL § 2-611
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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