(a) Except as provided in subsection (b) of this section, a financial institution shall pay the financial institution franchise tax with the return that covers the period for which the tax is due.
(b) Each financial institution required to file quarterly estimated financial institution franchise tax returns shall pay:
(1) at least 25% of the estimated financial institution franchise tax shown on the declaration or amended declaration for a taxable year:
(i) with the declaration or amended declaration that covers the year; and
(ii) with each quarterly return for that year; and
(2) any unpaid financial institution franchise tax for the year shown on the financial institution franchise tax return that covers that year, with the return.
Structure Maryland Statutes
Subtitle 2 - Financial Institution Franchise Tax
Section 8-202 - Imposition of Tax
Section 8-204 - Taxable Net Earnings -- Computation
Section 8-205 - Taxable Net Earnings -- International Banking Facilities
Section 8-206 - Taxable Net Earnings -- Allocation
Section 8-207 - Tax Credit -- for Estimated Taxes
Section 8-208 - Tax Credit -- for Tax Paid to Other State
Section 8-209 - Returns and Declarations
Section 8-211 - Administration by Department
Section 8-212 - Certifications for Payment of Refunds
Section 8-215 - Credit for Neighborhood and Community Assistance
Section 8-216 - Credit for Wages, Child Care, and Transportation for Employees With Disabilities
Section 8-217 - Credit for Businesses That Create Jobs
Section 8-218 - Credit for Employer-Provided Long-Term Care Insurance
Section 8-220 - One Maryland Economic Development Tax Credits