§ 7-218

# (a)

In this section, “small business” means a firm that:

# (1)

is independently owned and operated;

# (2)

is not a subsidiary of another firm;

# (3)

is not dominant in its field of operation; and

# (4)

in its most recently completed fiscal year, did not employ in its operations more than 25 individuals.

# (b)

On application of a person responsible for paying the inheritance tax and subject to § 13-601 of this article, the Comptroller may allow an alternative payment schedule for the inheritance tax, not exceeding a 5-year period, if payment of the tax on the due date would require the sale of a small business or any interest in a small business that passes from a decedent.

# (c)

A person may apply for an alternative payment schedule by filing with the Comptroller an application on the form and in the manner that the Comptroller requires.

# (d)

The payment schedule may be in the form of:

(1) a payment deferral; or

(2) an installment payment plan.

# (e)

# (1)

For each alternative payment schedule allowed under subsection (b) of this section, the Comptroller shall specify the procedures and guidelines, including:

(i) conditions of eligibility; and

(ii) 1. amount and duration of any payment deferral; or
2. amount of and scheduled time for any installment payments.

# (2)

If the Comptroller denies an application for an alternative payment schedule, the Comptroller shall mail a notice of the denial to the applicant.

# (f)

For each alternative payment schedule allowed under subsection (b) of this section, the Comptroller shall give the appropriate register notice of:

# (1)

the grant;

# (2)

the procedures and guidelines specified under subsection (e)(1) of this section; and

# (3)

the responsibilities of the register for receipt of payments.

# (g)

If an alternative payment schedule is allowed under subsection (b) of this section, the person responsible for paying the inheritance tax shall pay the tax in accordance with the schedule.

# (h)

The Comptroller shall adopt procedures to provide notice about the availability of alternative payment schedules under this section.