New Business Online Filings for Maryland

In a business-friendly move, Maryland is rolling out the ability to electronically file the annual personal property returns.  Every business in Maryland (sole proprietorship, non-profit, LLC, corporation, partnership, etc.) must file an annual return with the SDAT, due April 15.  Most entities (LLCs, Stock Corporations) will pay a filing fee of $300.  Every business must report the personal property or "stuff" it uses to conduct its business.  After the SDAT reviews, it assesses a tax based on the personal property.  In the past, one had to fill out and mail these forms.  

Find yourself facing April 15 and haven't filled out the forms yet?  Don't panic - Maryland offers a very easy (no penalty) extension of up to 2 months if you only ask!    


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