Maryland Statutes
Subtitle 1 - General Provisions and Valuation
Section 8-112 - Valuation of Distilled Spirits if Counties Impose a Personal Property Tax

(a)    (1)    In this section the following words have the meanings indicated.
        (2)    “Distiller” includes:
            (i)    the owner or proprietor of a bonded or other warehouse where distilled spirits are stored; or
            (ii)    a person who has custody of distilled spirits.
        (3)    “Fair value” means the lesser of:
            (i)    the cost, not reduced by any allowance for inflation; or
            (ii)    market value, not reduced by any allowance for inflation.
    (b)    If a county subjects distilled spirits to the personal property tax, on or before March 15 of each year, a distiller shall submit to the Department a report of the fair value of distilled spirits held by the distiller in the county.
    (c)    (1)    Distilled spirits shall be valued at the fair value of the spirits on January 1 of the year in which the report is made.
        (2)    The value of the same distilled spirits may not be reported more than 1 time in any period of 12 months.
    (d)    The distiller shall pay the property tax on the distilled spirits held by the distiller.

Structure Maryland Statutes