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 About the Maryland Nonresident Withholding Tax 2023

Mw506r 2023-2025 Form

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Video instructions and help with filling out and completing About The Maryland Nonresident Withholding Tax Form

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Instructions and help about 2017 mw506r fillable

if you're selling a property in Maryland and you're a non-resident you may be subject to Maryland withholding tax and this is a surprise that you do not want to have at the closing table I'm realtor Rebecca Cole with Burkshire hathway home sale realy and I help people buy and sell real estate in Maryland if the state of Maryland determines that you are in fact subject to Maryland withholding tax 8% of the total payment is due before the transfer deed can be recorded 8 and a half% % for a non-resident entity so what exactly is Maryland withholding tax who owes who's exempt and how much do you have to pay when you sell your home today I'm going to answer these questions and give you some valuable resources towards the end of the video in 2003 the general assembly enacted section 10- 912 of the tax General article which provides for income tax withholding for the sale or transfer of real estate property by non-resident individuals and entities this

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