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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
Currentness
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.

Credits

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 April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document