1. (a) Each person subject to taxation under this subtitle shall make a declaration of its estimated tax if the person's total tax for the current taxable year reasonably is expected to exceed $1,000.

2. (b) A person required to make a declaration of estimated tax shall:

   1. (1) file with the Commissioner:

      1. (i) an initial declaration of estimated tax on or before April 15 of the taxable year; and
      2. (ii) a quarterly estimated tax report on or before June 15, September 15, and December 15 after filing the initial declaration; and
   2. (2) pay to the Commissioner at least 25% of the tax estimated for the full taxable year with the initial declaration for that year and with each quarterly report for that year.

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1995, c. 352, § 10, eff. Oct. 1, 1997.

Formerly Art. 48A, § 635.