The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.
By Steven Roll
Maryland will waive penalties and one-half of the interest that would otherwise apply to delinquent tax debts paid from Sept. 1 through Oct. 30. [S.B. 552, enacted 5/7/09]
The amnesty period applies to the following types of state or local tax debts that arose on or before Dec. 31, 2008:
• income tax,
• withholding taxes,
• sales and use taxes, and
• admissions and amusement taxes.
S.B. 552 specifies that penalties for nonreporting, underreporting and nonpayment will be waived during the amnesty period. Also, participating taxpayers will not be subject to criminal charges arising from any return filed and paid during the amnesty period.
The Comptroller may enter into a payment agreement with a taxpayer that reports but is unable to pay a delinquent tax debt during the amnesty period, the legislation states.
Limitations of Amnesty Program
The amnesty program under the legislation is not available to any taxpayer that:
• as of Sept. 1, has more than 500 employees in the United States or is a member of a corporate group that has more than 500 employees in the United States;
• participated in the 2001 amnesty program; or
• was eligible for the settlement period in 2004 offered to company's with unpaid tax liabilities resulting from transactions with an intangible holding company.
The legislation takes effect June 1.
The full text of the Maryland measure is available on the Internet at http://mlis.state.md.us/2009rs/bills/sb/sb0552e.pdf.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)