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03.01.03.00.htm 03.01.03.00. Title 03 COMPTROLLER OF THE TREASURY Subtitle 01 OFFICE OF THE COMPTROLLER Chapter 03 Record-Keeping Requirements for Records Created by Computer and Electronic Systems Authority: Tax-General Article, §2-103, Annotated Code of Maryland
03.01.03.01.htm 03.01.03.01. 01 Purpose.. The purpose of this chapter is to serve as a supplement to the requirements imposed on taxpayers for the maintenance and retention of books, records, and other sources of information under COMAR 03.02.02.03, 03.02.03.04, 03.03.01.05, 03.03.01.06-07, 03.03.04.04, and 03.06.03.02. This chapter addresses the situation where all or a part of the taxpayer's records are received, created, maintained, or generated through various computer, electronic, a
03.01.03.02.htm 03.01.03.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Electronic data interchange" or "EDI technology" means the computer-to-computer exchange of business transactions in a standardized structured electronic format.2) "Hard copy" means any documents, records, reports, or other data printed on paper.. 3) Machine-Sensible Record.. a) "Machine-sensible record" means a collection of related information in an electronic format..
03.01.03.03.htm 03.01.03.03. 03 Record-Keeping Requirements-General.. A. If a taxpayer retains records required to be retained by the Comptroller in both machine-sensible and hard-copy formats, the taxpayer shall make the records available to the Comptroller in both formats upon request of the Comptroller.B. Notwithstanding the requirement in §A of this regulation, a taxpayer may not be prohibited from demonstrating tax compliance with traditional hard-copy documents.
03.01.03.04.htm 03.01.03.04. 04 Record-Keeping Requirements-Machine-Sensible Records.. A. General Requirements.. 1) Machine-sensible records used to establish tax compliance shall contain sufficient transaction-level detail information so that the details underlying the machine-sensible records can be identified and made available to the Comptroller.2) At the time of an examination, the retained machine-sensible records shall be capable of being retrieved and converted to a standard record format.
03.01.03.05.htm 03.01.03.05. 05 Records Maintenance Requirements.. The taxpayer's computer hardware or software shall accommodate the extraction and conversion of retained machine-sensible records.
03.01.03.06.htm 03.01.03.06. 06 Access to Machine-Sensible Records.. The taxpayer shall provide the Comptroller access to machine-sensible records in one or more of the following manners:A. The taxpayer may arrange to provide the Comptroller, either directly or through a third party, with the hardware, software, and personnel resources to access the machine-sensible records;B. The taxpayer may convert the machine-sensible records to a standard record format specified by the Comptroller, including
03.01.03.07.htm 03.01.03.07. 07 Taxpayer Responsibility.. A taxpayer may contract with a third party to provide custodial or management services of the records. This contract does not relieve the taxpayer of its responsibilities under this chapter.
03.01.03.08.htm 03.01.03.08. 08 Alternative Storage Media.. A. For purposes of storage and retention, a taxpayer may:. 1) Convert hard-copy documents, received or produced in the normal course of business and required to be retained, to microfilm, microfiche, or other storage-only imaging systems; and2) After a 3-month period, discard the original hard-copy documents, if the conditions of §B of this regulation are met.B. Requirements.. 1) Microfilm, microfiche, and other storage-only imaging systems shall meet
03.01.03.09.htm 03.01.03.09. 09 Effect On Hard-Copy Record-Keeping Requirements.. A. Except as otherwise provided in this chapter, this chapter does not relieve taxpayers of the responsibility to retain hard-copy records that are created or received in the ordinary course of business, as required by existing law and regulations.B. If hard-copy records are not produced or received in the ordinary course of transacting business, for example, when the taxpayer uses electronic data interchange technology
03.01.03.10.htm 03.01.03.10. 10 Records Retention-Time Period.. Records required to be retained under this chapter shall be preserved for the same time period as all other records are required to be kept for the applicable tax.
03.01.03.9999.htm 03.01.03.9999. Administrative History Effective date: September 7, 1998 (25:18 Md. R. 1434).
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