Transcription of MARYLAND'S
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MARYLAND'S WITHHOLDING REQUIREMENTS for Sales or Transfers of Real Property and Associated Personal Property by Nonresidents Revised 10/19 2 MARY LAND S WITHHOLDING REQUIREMENTS for Sales or Transfers of Real Property and Associated Personal Property by Nonresidents Table of Contents Introduction .. 3 Our Most Frequently Asked Questions .. 5 Frequently Asked Questions .. 7 Helpful Links .. 11 3 Introduction In 2003, the General Assembly enacted Section 10-912 of the Tax-General Article, Annotated Code of maryland , which provides for income tax withholding on sales or transfers of real property and associated tangible personal property in maryland by nonresident individuals and nonresident entities.
Department when the deed or other instrument of transfer is presented for recordation. The tax paid on behalf of the nonresident transferor must be reported on Form MW506NRS and will be prepared by the person handling closing. The payment of tax is made on behalf of the nonresident transferor and is recorded with the deed.
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