§ 14-704

# (a)

# (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)

The Department may abate or reduce the tax penalty under subsection (a) of this section when good cause is shown.

# (c)

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)

(1) Any extension request submitted by paper document must be accompanied by the fee specified in § 1-203 of the Corporations and Associations Article.

(2) Extensions are not accepted by facsimile.