§ 13-716
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/md/tax-general/13-716A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§13–716.
(a)The Comptroller shall assess a penalty of 25% of the amount of the underpayment of tax which is attributable to any substantial estate tax valuation understatement.
(b)For purposes of this section, there is a substantial estate tax valuation understatement if the value of any property claimed, or that should have been claimed, on any return of tax imposed by Title 7, Subtitle 3 of this article is 60% or less of the amount determined to be the correct amount of that valuation.
(c)A penalty may not be imposed under subsection
(a)of this section unless the portion of the underpayment attributable to substantial estate tax valuation understatement is greater than $5,000.