BALTIMORE, MD—The Maryland Department of Assessments and Taxation is reminding residents that 2022 Annual Reports, Personal Property Tax Returns, and deadline extension requests must be filed for both domestic and foreign business entities by next Friday, April 15, 2022. The quickest and easiest way to submit these filings is through the department’s Maryland Business Express website. These filings must be submitted by the April 15 deadline for entities to remain in “good standing” status.
“SDAT is well-poised to help our customers with the annual filings process, and is very proud to have a fast and reliable system in place making it easier and faster than ever to plan, start, manage and grow a business here in Maryland,” said SDAT Director Michael Higgs.
In order to maintain “good standing” status, all business entities formed, qualified or registered to do business in Maryland must file an annual report every year. If your business owns, leases, or uses personal property in Maryland and/or maintains a trader’s license with a local unit of government in Maryland, you must also file a Personal Property Tax Return.
The current Annual Report filing fee for most domestic and foreign entities is $300, and every entity has the option to extend the due date to June 15 at no charge. Legislation was submitted at the request of Governor Larry Hogan to amend Maryland’s Annual Report fee structure to be more competitive with those of neighboring states and incentivize online filing (UPDATE: The Maryland General Assembly did not pass this measure). Regardless of the legislation’s outcome, all filing fees are due for 2022 annual filings.
Additional information on the required annual filings and statuses of local businesses can be found on the Maryland Business Express page on maintaining good standing. status.