You'll need to sign in or create an account to connect with an expert.
No.According to the instructions for Maryland's Personal Property tax return,
"State law requires that certain types of personal property be fully exempt throughout Maryland from any assessment and taxation. These include aircraft, farming implements, residential (non-business) property, most registered vehicles, boats not more than 100 feet in length, customized computer software, intangible personal property (e.g., stocks, bonds, patents, goodwill, trademarks, etc.)." See page 2 :http://dat.maryland.gov/SDAT%20Forms/2016%20Form%20AT3-51%20Instructions.pdf
The tax is imposed on business personal property (not real estate) for a sole proprietorship,and your rental activity is not a sole proprietorship.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
davegoldfarb
New Member
queenkiki22
New Member
tocguy
Level 3
j-zee
New Member
epicanthony
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.