For Maryland Preparers

[dascpa]

MD is one of the few states with a business personal property tax return. Last year MD introduced MarylandSaves, a state retirement plan.  If you applied for the program, or applied for an exemption by 12/01/22 you saved the $300 annual Charter Fee.  Neither SDAT or MarylandSaves could figure out how to talk to each other.  This is the final info after I corresponded with the new Comptroller of Maryland.

1. After March 1st if Form 1 filed through Business Express on SDAT, system [should] pick up whether there’s a $300 exemption or not.
2. If filed on paper, like through my software vendor, there is no master list to check as to whether there is a successful exemption on file.  They know this is a huge problem (clusterf***).
3. I was told to send my list of clients and Charter Numbers to Glenn Simmons at Maryland Saves (his email won't print here but it's his name) and he will personally get back to me on who is exempt and who is not.  Update - he did the next day.
4. If a client is exempt but did not file for the exemption until after Dec 1, 2022, or is a new business, it will be a next year exemption.
5. After April 15th they are working to get information out to all tax practitioners on this.  They understand this did not go as planned.

[Skylane]

Not from Md, but this is certainly worthy of a bump.