2018 Maryland Code
Tax - General
Title 13 - Procedure
Subtitle 7 - Penalties
§ 13-716. Penalty for underpayment; calculations.
(a) Amount. -- The Comptroller shall assess a penalty of 25% of the amount of the underpayment of tax which is attributable to any substantial estate tax valuation understatement.
(b) Calculation of "substantial understatement". -- For purposes of this section, there is a substantial estate tax valuation understatement if the value of any property claimed, or that should have been claimed, on any return of tax imposed by Title 7, Subtitle 3 of this article is 60% or less of the amount determined to be the correct amount of that valuation.
(c) Exemption from penalty. -- A penalty may not be imposed under subsection (a) of this section unless the portion of the underpayment attributable to substantial estate tax valuation understatement is greater than $ 5,000.