The Personal Property Division information page of the SDAT Web site contains links to forms and instructions, brochures, exemptions, tax rate charts and more. This article focuses on how to form a stock corporation in Maryland.A corporation is a business entity having legal authority to act as a single person. All retail vendors are required to register and collect the. Maryland sales and use tax and obtain a sales and use tax license. This article provides a stepbystep guide to starting an LLC in Maryland, including the cost. Upon conversion to a stock insurance company, the policyholder exchanged his or her ownership in the mutual insurance company for stock or the cash equivalent.