The Maryland Insurance Administration shall perform an audit of the retaliatory tax with its audit of the annual premium tax report and in addition shall compute and bill for any additional retaliatory tax due from companies domiciled in a state where by statute or ordinance taxes, licenses, or fees are payable to political subdivisions of that state. If the amount of retaliatory tax computed by the Maryland Insurance Administration is greater than the amount shown on the report, the excess shall be assessed by the Maryland Insurance Administration and a notice of the assessment shall be mailed to the insurance company filing the report. The assessment shall be made within 3 years from the date the report was due, except in the case of failure to file a report or of a fraudulent report, in which case the excess may be assessed at any time.

Authority: Insurance Article, §2-109 and Title 6, Subtitle 3, Annotated Code of Maryland

Effective date: April 1, 1967

Amended effective May 1, 1968

Regulations .01—.03 amended effective November 6, 1995 (22:22 Md. R. 1657)

Chapter recodified from COMAR 09.30.13 to COMAR 31.06.02 effective September 7, 1998 (25:18 Md. R. 1439)

Regulation .01 amended effective August 15, 2016 (43:16 Md. R. 901)

Regulation .02 amended effective August 15, 2016 (43:16 Md. R. 901)