Here is a copy of the letter (pdf) sent to the Comptroller’s office by the Joint Legislative Committee on Administrative, Executive and Legislative Review (AELR) detailing the changes the committee made to the regulations. Those changes include extending the reporting deadline by 45 days and providing that the Comptroller, for any reason, may abate or decrease the penalty.

Earlier this week, the Maryland Chamber, the Maryland Association of CPAs and the Tax Section of the State Bar Association urged AELR to adopt the amendments. We are thankful that AELR delayed the reporting deadline. This delay will be helpful to businesses that were unaware of the new requirements or under the gun to get the tax information ready to submit to the Comptroller’s office. If you are confident that you have compiled the necessary information, and that it is complete and accurate, send it in now.

Visit the Comptroller’s site for updated information.