File your business’s Annual Report and Personal Property Tax Returns, and pay local, state, and federal taxes.
All business owners need to pay taxes to the government. Find out the specific tax rules for your business by checking with local, state, and federal agencies. This depends on your business type and where you are.
You might also need to pay real and personal property taxes. If your business owns personal property, you need to file an Annual Report and Personal Property Tax Returns.
County and Municipal Real and Personal Property Taxes
The Maryland Department of Assessments and Taxation determines the value of real and personal property owned by businesses, and shares those values with local governments. Some areas in Maryland use these values to figure out real and personal property taxes.
You need to file a Personal Property Tax Return if your business:
- Owns or leases personal property, or
- Has a trader’s license with the local government
For details on how to file, visit the Maintain Good Standing Status page.
Property Tax Exemption for Charitable or Educational Organizations
If a charitable or educational organization owns property and uses it for charitable or educational purposes, it might qualify for a property tax exemption under Maryland’s Tax Property Article 7-202.
Apply for a property tax exemption for a charitable or educational organization.
County and Municipal Business Taxes
Don’t forget to file and pay all other business taxes with the Maryland Comptroller, the federal IRS, or any other agency.