Section 6-106 - Declaration of estimated tax. - Maryland Statutes

§ 6-106. Declaration of estimated tax.
 

(a)  Required.- 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. 

(b)  Filing and payment of estimated tax.- 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. 
 

[An. Code 1957, art. 48A, § 635; 1995, ch. 36; ch. 352, § 10.]