§ 14-704. Tax penalty - When annual report not submitted.
(a) In general.-
(1) If the annual report is not submitted as required by § 11-101 of this article, the Department shall assess:
(i) an initial tax penalty not exceeding 1/10 of 1% of the total county assessment in all counties where property is located; and
(ii) an additional penalty of 2% of the initial tax penalty for each 30 days or fraction of a 30-day period that the report is not submitted.
(2) The initial penalty under paragraph (1) of this subsection may not be more than $500 or less than:
(i) $30 if 1 to 15 days late;
(ii) $40 if 16 to 30 days late; or
(iii) $50 if over 30 days late.
(b) Abatement or reduction of tax penalty.- The Department may abate or reduce the tax penalty under subsection (a) of this section when good cause is shown.
(c) Extension.- The Department may extend the date for submitting the report until June 15 of the year in which the report is due if a person submits a request:
(1) electronically on or before April 15 of the year in which the report is due; or
(2) by paper document on or before March 15 of the year in which the report is due.
(d) Submission of fee with paper document.-
(1) Any extension request submitted by paper document must be accompanied by the fee specified in § 1-203 of the Corporations and Associations Article.
§ 14-704. Tax penalty - When annual report not submitted.
(a) In general.-
(1) If the annual report is not submitted as required by § 11-101 of this article, the Department shall assess:
(i) an initial tax penalty not exceeding 1/10 of 1% of the total county assessment in all counties where property is located; and
(ii) an additional penalty of 2% of the initial tax penalty for each 30 days or fraction of a 30-day period that the report is not submitted.
(2) The initial penalty under paragraph (1) of this subsection may not be more than $500 or less than:
(i) $30 if 1 to 15 days late;
(ii) $40 if 16 to 30 days late; or
(iii) $50 if over 30 days late.
(b) Abatement or reduction of tax penalty.- The Department may abate or reduce the tax penalty under subsection (a) of this section when good cause is shown.
(c) Extension.- The Department may extend the date for submitting the report until June 15 of the year in which the report is due if a person submits a request:
(1) electronically on or before April 15 of the year in which the report is due; or
(2) by paper document on or before March 15 of the year in which the report is due.
(d) Submission of fee with paper document.-
(1) Any extension request submitted by paper document must be accompanied by the fee specified in § 1-203 of the Corporations and Associations Article.
§ 14-704. Tax penalty - When annual report not submitted.
(a) In general.-
(1) If the annual report is not submitted as required by § 11-101 of this article, the Department shall assess:
(i) an initial tax penalty not exceeding 1/10 of 1% of the total county assessment in all counties where property is located; and
(ii) an additional penalty of 2% of the initial tax penalty for each 30 days or fraction of a 30-day period that the report is not submitted.
(2) The initial penalty under paragraph (1) of this subsection may not be more than $500 or less than:
(i) $30 if 1 to 15 days late;
(ii) $40 if 16 to 30 days late; or
(iii) $50 if over 30 days late.
(b) Abatement or reduction of tax penalty.- The Department may abate or reduce the tax penalty under subsection (a) of this section when good cause is shown.
(c) Extension.- The Department may extend the date for submitting the report until June 15 of the year in which the report is due if a person submits a request:
(1) electronically on or before April 15 of the year in which the report is due; or
(2) by paper document on or before March 15 of the year in which the report is due.
(d) Submission of fee with paper document.-
(1) Any extension request submitted by paper document must be accompanied by the fee specified in § 1-203 of the Corporations and Associations Article.
