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§ 6-106. Declaration of estimated tax

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 6. Taxes and Fees
Subtitle 1. Taxes (Refs & Annos)
MD Code, Insurance, § 6-106
§ 6-106. Declaration of estimated tax
Currentness
Total tax exceeding $1,000
(a) Each person subject to taxation under this subtitle shall make a declaration of its estimated tax if the person's total tax for the current taxable year reasonably is expected to exceed $1,000.
Declaration requirements
(b) A person required to make a declaration of estimated tax shall:
(1) file with the Commissioner:
(i) an initial declaration of estimated tax on or before April 15 of the taxable year; and
(ii) a quarterly estimated tax report on or before June 15, September 15, and December 15 after filing the initial declaration; and
(2) pay to the Commissioner at least 25% of the tax estimated for the full taxable year with the initial declaration for that year and with each quarterly report for that year.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1995, c. 352, § 10, eff. Oct. 1, 1997.
Formerly Art. 48A, § 635.
MD Code, Insurance, § 6-106, MD INSURANCE § 6-106
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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