What is a Maryland 502 form?

What is a Maryland 502 form?

Choose the Right Income Tax Form If you are a Maryland resident, you can file long Form 502 and 502B if your federal adjusted gross income is less than $100,000. If you lived in Maryland only part of the year, you must file Form 502. If you are a nonresident, you must file Form 505 and Form 505NR.

Where do I send my Maryland 502 tax return?

If you are sending a Form 502 or Form 505 (with a payment) through the US Postal Service, send it to: Comptroller of Maryland, Payment Processing, PO Box 8888, Annapolis, MD 21401-8888.

Who Must file Maryland personal property return?

All corporations, limited liability companies (LLCs), limited liability partnerships (LLPs), and limited partnerships must file personal property returns with the Department of Assessments and Taxation. 2.

Are employers required to withhold Maryland local taxes?

You are not required by law to withhold Maryland income taxes from the wages paid to a domestic employee in a private residence. However, you may do so as a courtesy to the employee. If you wish, you can register your withholding account online and use bFile to file your withholding returns electronically for free.

What is considered personal property in Maryland?

Personal property generally includes furniture, fixtures, office and industrial equipment, machinery, tools, supplies, inventory and any other property not classified as real property.

Does Maryland have a state tax withholding form?

To receive additional copies of the Federal and Maryland State Tax Withholding Request form, or for other information concerning your retirement benefits, call 410-625-5555, or toll free in Maryland 1-800-492-5909, or visit our website at sra.maryland.gov.

Are you exempt from Maryland withholding?

If you have an employee who expects to have less than $12,950 in income during 2022, you are not required to withhold Maryland state and local income tax.

What happens if I don’t pay enough estimated taxes?

If you don’t pay enough tax through withholding and estimated tax payments, you may be charged a penalty. You also may be charged a penalty if your estimated tax payments are late, even if you are due a refund when you file your tax return.

How long can you work in Maryland without paying taxes?

If you do live in Maryland for more than six months, you are considered a statutory resident and will need to file a resident income tax return with Maryland.