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A Maryland personal property return (Form2) must be filed by all sole proprietorships and general partnerships if they possess (own, lease, rent, use or borrow) business personal property or need a business license. A business which fails to file this return will likely receive an estimated assessment.

All taxpayers may use Form 502. You must use this form if you itemize deductions, if you have any Maryland additions or subtractions, if you have made estimated payments or if you are claiming business or personal income tax credits.

BUSINESS PERSONAL PROPERTY RETURN An Annual Report must be filed by all business entities formed, qualified or registered to do business in the State of Maryland, as of January 1st. Maryland State Department of Assessments and Taxation, Business Services Division.

Generally, you are required to file a Maryland income tax return if: You are or were a Maryland resident; You are required to file a federal income tax return; and. Your Maryland gross income equals or exceeds the level listed below for your filing status.

All legal business entities formed, qualified, or registered to do business in Maryland MUST file an Annual Report: Legal business entities (Corporations, LLC, LP, LLP, etc.), whether they are foreign or domestic, must file a Form 1 Annual Report (fees apply)

Use Form 548, Power of Attorney and Declaration of Representative, for this purpose if you choose. You may use Form 548 Power of Attorney to appoint one or more individuals to represent you in tax matters before the Comptroller of Maryland.