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§ 13-409. Assessment when federal adjustment made

West's Annotated Code of MarylandTax-GeneralEffective: July 1, 2007

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 13. Procedure (Refs & Annos)
Subtitle 4. Assessments (Refs & Annos)
Effective: July 1, 2007
MD Code, Tax - General, § 13-409
§ 13-409. Assessment when federal adjustment made
In general
(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.
Report required
(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.


Added as Tax-General § 13-410 by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989. Renumbered as Tax-General § 13-409 and amended by Acts 1988, c. 110, § 4; Acts 1988, c. 569, § 3. Amended by Acts 1988, c. 643, § 2; Acts 2007, c. 475, § 1, eff. July 1, 2007.
Formerly Art. 81, § 309.
MD Code, Tax - General, § 13-409, MD TAX GENERAL § 13-409
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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