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§ 8-403. Rate of franchise tax

West's Annotated Code of MarylandTax-General

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 8. Franchise Taxes (Refs & Annos)
Subtitle 4. Public Service Company Franchise Tax (Refs & Annos)
MD Code, Tax - General, § 8-403
§ 8-403. Rate of franchise tax
Currentness
Rate of tax under § 8-402
(a) The rate of the franchise tax imposed under § 8-402 of this subtitle is 2% of gross receipts derived from business in the State.
Rate of tax under § 8-402.1
(b) The rate of the tax imposed under § 8-402.1 of this subtitle is:
(1) 0.062 cents for each kilowatt hour of electricity delivered by the public service company for final consumption in the State; and
(2) 0.402 cents for each therm of natural gas delivered by the public service company for final consumption in the State.

Credits

Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989. Amended by Acts 1999, c. 5, § 1, eff. Jan. 1, 2000; Acts 1999, c. 6, § 1, eff. Jan. 1, 2000.
Formerly Art. 81, § 130.
MD Code, Tax - General, § 8-403, MD TAX GENERAL § 8-403
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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