Maryland Code, TAX – GENERAL 2-610
Terms Used In Maryland Code, TAX - GENERAL 2-610
- 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.
- County: means a county of the State or Baltimore City. See
- 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.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) The periodic distributions of the estimated amount to which each county, municipal corporation, and special taxing district is entitled from withholdings and estimated income taxes paid shall be made:
(1) for the 1st 3 quarters of the State‘s fiscal year, as often as practicable but at least each quarter; and
(2) for the 4th quarter of that year:
(i) before the last day of that year, for the months of April and May; and
(ii) before August 31, for the month of June.
(c) Abrogated.
(d) The Comptroller shall make a payment of the additional amounts provided under § 2-608.1 of this subtitle on or about December 31 of the fiscal year for which the payment is made.