Maryland Code, TAX – GENERAL 10-909
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, TAX - GENERAL 10-909
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
The income tax required to be withheld under § 10-908 of this subtitle shall be withheld:
(1) by a payor other than a fiduciary or S corporation and by an employer:
(i) on the basis of each weekly, 2-week, semimonthly, or monthly regular period of payment; or
(ii) if there is no regular period of payment as specified in item (i) of this item, on a daily basis; and
(2) by a payor who is a fiduciary, on a quarterly basis.