Maryland Sales and Use Taxes Taxation of digital products in Maryland
Maryland Sales and Use Taxes Taxation of digital products in Maryland L. 2022, S723 (c. 535), effective 07/01/2022, amends the definition of “digital product” for purposes of application of the sales and use tax. “Digital product” does not include: (1) a product having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities where the purchaser holds a copyright […]
Arkansas Sales and Use Taxes Motor vehicle sales tax credit disallowed
Arkansas Sales and Use Taxes Motor vehicle sales tax credit disallowed A taxpayer was not entitled to a sales tax credit against the sales price of a new motor vehicle as the title of the used motor vehicle was not in the taxpayer’s name, but in another entity’s name. Ark. Regs. § GR-12.1(C)(1) provides that the […]
Maryland Sales and Use Taxes Maryland tangible personal property and services subject to tax
Maryland Sales and Use Taxes Maryland tangible personal property and services subject to tax The Maryland Comptroller’s Office has issued a list of tangible personal property and services the sale of which is subject to sales and use tax. This is not a complete list, but may be used as a guide in determining the taxability of tangible personal property […]
Maryland Property Tax Business personal property exemption
Maryland Property Tax Business personal property exemption The Maryland State Department of Assessments and Taxation (SDAT) alerts taxpayers of the increase in the exemption from personal property assessment for all Maryland businesses from $2,500 to $20,000 due to recently enacted legislation (as reported in State Tax Update , 05/19/2022). The SDAT will automatically adjust assessments of filings that were submitted between January […]
Maryland Property Tax Baltimore City annual property tax.
Maryland—Property Tax—Baltimore City annual property tax. Effective June 23, 2022, the City of Baltimore has enacted Ordinance No. 22-143, Council Bill No. 22-0236, which imposes an annual tax on all property in the City of Baltimore, except property exempt by law, for the period July 1, 2022 through June 30, 2023. An annual tax of […]
Maryland issues updated guidance on sales of digital products and digital code
Maryland issues updated guidance on sales of digital products and digital code. The Maryland Comptroller’s Office has issued updated guidance on the sales and use taxation of digital products and digital code. The guidance conforms to recently enacted legislation that amended the definition of “digital product” to exclude certain products where the purchaser has a certain property interest […]
Maryland Insurance Companies Taxes
Maryland Insurance Companies Taxes Maryland insurance company exemption The Maryland Court of Special Appeals has affirmed the Maryland Tax Court ruling that a Vermont licensed insurance company is exempt from Maryland corporate income tax. In Maryland, Title 4 of the Insurance Article provides that an insurance premium tax is imposed on unauthorized insurers in lieu of all other state taxes. The Maryland Comptroller contended that the exemption […]