Maryland § 2-614
Full text of Maryland Maryland Code § 2-614, with citation guidance and answers to common questions.
§ 2-614.
(a) (1) Except as provided in paragraph (2) of this subsection, after making the distributions required under §§ 2–613 and 2–613.1 of this subtitle, the Comptroller shall distribute monthly 20% of the remaining income tax revenue from corporations to a special fund to be distributed as provided in subsection (b) of this section.
(2) The percent of the remaining income tax revenue from corporations distributed to a special fund to be distributed as provided in subsection (b) of this section shall be:
(i) 17.2% for the fiscal year beginning July 1, 2022;
(ii) 20% for the fiscal year beginning July 1, 2023;
(iii) 21% for the fiscal year beginning July 1, 2024; and
(iv) 22% for each fiscal year beginning on or after July 1, 2025, but before July 1, 2027.
(b) (1) (i) Except as provided in subparagraph (ii) of this paragraph, from the special fund, the Comptroller shall distribute an amount equal to 20% of the cost to administer the income tax on corporations to an administrative cost account.
(ii) The percent of the cost to administer the income tax on corporations that is distributed to an administrative cost account shall be:
1. 17.2% for the fiscal year beginning July 1, 2022;
2. 20% for the fiscal year beginning July 1, 2023;
3. 21% for the fiscal year beginning July 1, 2024; and
4. 22% for each fiscal year beginning on or after July 1, 2025, but before July 1, 2027.
(2) After making the distribution required under paragraph (1) of this subsection, the Comptroller shall distribute the balance in the special fund to the Gasoline and Motor Vehicle Revenue Account in the Transportation Trust Fund.
Frequently Asked Questions About Maryland § 2-614
What does Maryland Code § 2-614 cover?
Section 2-614 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 2-614?
A common citation format is "Maryland Code § 2-614" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 2-614 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.