(a) A holder of a permit issued under this part may renew the permit each year if the holder:
(1) is otherwise entitled to hold a permit under this part;
(2) provides to the Executive Director and the Comptroller a copy of its current permit; and
(3) pays the Executive Director a renewal fee of $200.
(b) The Executive Director may deny a renewal application for a permit issued under this part if the holder fails to:
(1) file a tax return required under this subtitle;
(2) pay a fee or tax when due; or
(3) after receiving notice, comply with this article or a regulation that the Executive Director adopts under this article.