Corporate/business property tax

The corporate or business property tax is on business-owned personal property and imposed and collected by the local governments. Assessments of such properties are done by the Maryland State Department of Assessments and Taxation, which values furniture, fixtures, office and industrial equipment, machinery, tools, supplies, inventory, and any other property not classified as real property.

Corporate, business returns

Businesses must file a return by April 15, reporting personal property in Maryland on January 1 or the "date of finality." This is the date used to determine ownership, value, and liability for taxes due.

Unlike real property, personal property is valued every year for tax purposes. At the beginning of each calendar year, the Department of Assessments and Taxation mails a personal property return to all businesses on record.

Even if the business does not receive this return, it is still responsible for obtaining and filing one on time. 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.

Sole proprietorships and general partnerships must file. Not filing a return results in an estimated assessment and a possible delay in the issuance of a business license. If you are unsure whether you are required to file, please call the appropriate number listed below:

Corporations: 410-767-1170 LLCs and LLPs: 410-767-1170 Limited Partnerships: 410-767-1170 Sole Proprietors, General Partnerships:

Abatements, adjustments

You can request an abatement three years from the time the assessment was certified by the State Department of Assessments and Taxation. The county collects the taxes based on the assessment provided by them. Any adjustments or abatements would have to be requested through them.