Maryland Code, LABOR AND EMPLOYMENT 8.3-903
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Terms Used In Maryland Code, LABOR AND EMPLOYMENT 8.3-903
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
If an employer fails to pay the contributions due to the Fund, the Secretary may, in accordance with § 8.3-404 of this title:
(1) assess the amount of contributions and interest due;
(2) make an additional assessment in an amount not to exceed two times the contributions withheld, as a penalty for failure to pay the contributions due; and
(3) order an audit of the employer for the immediately following fiscal year to investigate and determine compliance with this title and Titles 3, 8, and 9 of this article.