All Maryland businesses must file with the Maryland Department of Assessments and Taxation (SDAT) 2022 Annual Reports, Personal Property Tax Returns, and deadline extension requests for both domestic and foreign business entities by Friday, April 15, 2022. If businesses fail to file, their company charter may be revoked. The quickest and easiest way to submit these filings is through the Maryland Business Express website. These critical filings must be submitted by the April 15 deadline for entities to remain in “good standing” status.
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. Regardless of the legislation’s outcome, all filing fees are due for 2022 annual filings.
For more information about the required annual filings or to view the status of your business, visit the Maryland Business Express page on maintaining good standing status. To view entity filings for free online and review the legal status of your business, access our Maryland Business Express Entity Search.
Miller, Miller & Canby business and tax attorneys help with corporate legal agreements, business formation, tax controversy work and helping clients deal with new tax regulations. View more information about Miller, Miller & Canby’s Business & Tax practice by clicking here.