Maryland Sales And Use Taxes Taxation Of Digital Products In Maryland
Overview Maryland Sales and Use Taxes: Taxation of Digital Products in Maryland L. 2022, S723 (c. 535), effective July 1, 2022, amends the definition of “digital product” for purposes of application of the sales and use tax. Exclusions from the Definition of “Digital Product” “Digital product” does not include: Summary This legislation clarifies that Maryland’s […]
Arkansas Sales And Use Taxes Motor Vehicle Sales Tax Credit Disallowed
Overview A taxpayer was not entitled to a sales tax credit against the sales price of a new motor vehicle because the title of the used motor vehicle was not in the taxpayer’s name, but in another entity’s name. Regulation Reference Ark. Regs. § GR-12.1(C)(1) provides that: The person or entity claiming the credit must […]
Maryland Sales And Use Taxes Maryland Tangible Personal Property And Services Subject To Tax
Overview 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. Note: This is not a complete list but may serve as a general guide in determining the taxability of tangible personal property and services. The list is published as […]
Maryland Property Tax Business Personal Property Exemption
Overview of the Exemption Increase 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. This change comes as a result of recently enacted legislation, as reported in State Tax Update on May 19, 2022. Automatic […]
Maryland Property Tax Baltimore City Annual Property Tax.
Overview of 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 within Baltimore City, except property exempt by law. This applies for the period July 1, 2022 through June 30, 2023. Tax Rates on […]
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. This guidance aligns with recently enacted legislation that amended the definition of “digital product” to exclude: Key Updates and Clarifications The update includes revisions and additional examples on the following topics: Advertising Clarification on the […]
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. Background 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 […]