Maryland Sales and Use Taxes Short-term lease or rental of heavy equipment

L. 2022, H795 (c. 634), effective 07/01/2022, amends the gross receipts tax on short-term leases or rentals of heavy equipment property. The tax does not apply to a short-term lease or rental of heavy equipment property to the federal government, Maryland, a county, or a municipality. Also, a person who owns a business with gross receipts subject to the tax is no longer required to submit to the county or municipality where the heavy equipment rental business is located a list of all personal property, including the original cost and date of acquisition of the property, that is subject to the gross receipts tax and exempt from the personal property tax. As a result, a county or municipality is no longer required to calculate the amount of property tax that would have been due for all property that is exempt from personal property tax.