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§ 8-202. Tax imposed on financial institutions

West's Annotated Code of MarylandTax-General

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 8. Franchise Taxes (Refs & Annos)
Subtitle 2. Financial Institution Franchise Tax (Refs & Annos)
MD Code, Tax - General, § 8-202
§ 8-202. Tax imposed on financial institutions
In general
(a)(1) For all taxable years beginning before January 1, 2001, a franchise tax, measured by taxable net earnings, is imposed annually on each financial institution existing or doing business in the State during any part of the fiscal year of the financial institution.
(2) For all taxable years beginning after December 31, 2000, the financial institution franchise tax is terminated, and Maryland taxable income of financial institutions shall be subject to taxation under Title 10 of this article.
Savings banks, savings and loan associations
(b) A county, municipal corporation, special taxing district, or other political subdivision of the State may not impose on a savings bank or savings and loan association any tax other than its regular tax on property.

Credits

Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989. Amended by Acts 1988, c. 565; Acts 2000, c. 225, § 1, eff. Oct. 1, 2000; Acts 2002, c. 122, § 1, eff. June 1, 2002.
Formerly Art. 81, §§ 128, 128A.
MD Code, Tax - General, § 8-202, MD TAX GENERAL § 8-202
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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