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I have to pay $300 to the Maryland State Department of Assessments and Taxation to keep my LLC "in good standing", otherwise it will be forfeited.

How do I categorize this expense? Is this a "business licences" expense? Thanks in advance.
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1 Reply
ee-ea
Level 15

I have to pay $300 to the Maryland State Department of Assessments and Taxation to keep my LLC "in good standing", otherwise it will be forfeited.

 Is this a "business licences" expense? Yes it is.

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