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03.04.12.00.htm 03.04.12.00. Title 03 COMPTROLLER OF THE TREASURY Subtitle 04 INCOME TAX Chapter 12 Nonresident Real Estate Withholding Tax Authority: Tax-General Article, §2-103 and 10-912, Annotated Code of Maryland
03.04.12.01.htm 03.04.12.01. 01 Applicability.. Effective Date. This chapter applies to all deeds and other instruments of transfer recorded with the clerk or filed with the Department on or after October 1, 2003.
03.04.12.02.htm 03.04.12.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Clerk" means clerk of the circuit court for any county of the State or Baltimore City.. 2) "Debt incurred in contemplation of sale" means a debt secured by a mortgage, deed of trust, or other instrument on the property being sold with an effective date of not earlier than 90 days before the date of sale.3) "Department" means the Department of Assessments and Taxation..
03.04.12.03.htm 03.04.12.03. 03 Withholding Requirements.. A. Except as provided in §B of this regulation, a deed or other instrument transferring title may not be:1) Recorded with the clerk; or. 2) Filed with the Department.. B. A deed or other instrument transferring title may be recorded with the clerk or filed with the Department when:1) Payment is made to the clerk or Department in an amount equal to the applicable percentage of the total payment to a nonresident or nonresident entity, respectively, as sta
03.04.12.04.htm 03.04.12.04. 04 Certificate of Full or Partial Exemption.. A. The transferor may file an Application for Certificate of Full or Partial Exemption (Form MW506AE) with the Comptroller.B. The transferor shall:. 1) File the Application for Certificate of Full or Partial Exemption with the Comptroller at least 21 days before the settlement date;2) Indicate on the Application for Certificate of Full or Partial Exemption the reason or reasons the transfer qualifies for a full or partial exempti
03.04.12.05.htm 03.04.12.05. 05 Responsibilities of Transferee and Real Estate Reporting Person at Settlement.. A. Unless the transfer is fully exempt from the withholding requirements of this chapter, the transferee or real estate reporting person shall:1) Withhold at settlement the tax required under Regulation .03B(1) of this chapter; and. 2) Remit the tax to the clerk or to the Department in accordance with Regulation .06 of this chapter.B. A Return of Income Tax Withholding for Nonresid
03.04.12.06.htm 03.04.12.06. 06 Additional Requirements for Recordation or Filing.. A. If a payment is required pursuant to Regulation .03B(1) of this chapter, the person presenting the deed or other instrument of transfer shall present the following additional documents to the clerk or the Department:1) Copies A and B of the Return of Income Tax Withholding for Nonresident Sale of Real Property;. 2) If issued by the Comptroller, the Certificate of Full or Partial Exemption; and. 3) A separate check in th
03.04.12.07.htm 03.04.12.07. 07 Duties of the Clerk or the Department.. A. The clerk or the Department shall review the documents presented for recordation or filing for compliance with the requirements of this chapter.B. If applicable, the clerk or the Department shall collect any tax due on the transfer.. C. On or before the 21st day of the month following the month in which the clerk or the Department receives the payment of tax under Regulation .03B(1) of this chapter, the clerk or the Department shall:
03.04.12.08.htm 03.04.12.08. 08 Procedures for Requesting Early Refunds.. A. An individual or a corporation that has paid withholding tax in excess of the amount owed may file an Application for Tentative Refund of Withholding on Sales of Real Property by Nonresidents (MW506R) with the Comptroller 60 days after the date the tax was paid to the clerk or the Department, but not later than December 1 of the calendar year in which the tax was paid.B. A pass-through entity or a partner, member, or
03.04.12.9999.htm 03.04.12.9999. Administrative History Effective date:. Regulations .01―08 adopted as an emergency provision effective October 1, 2003 (30:22 Md. R. 1574) emergency status extended at 31:22 Md. R. 1594; emergency status expired March 31, 2005Regulations .01―08 adopted as an emergency provision effective April 1, 2005 (32:11 Md. R. 981) adopted permanently effective July 18, 2005 (32:14 Md. R. 1275)Regulation .01 amended effective October 22, 2007 (34:21 Md. R. 1913).
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