Businesses Can Now File Up to 10 Years of Overdue Annual Reports and Personal Property Tax Returns Online to Regain Good Standing Status
The Maryland Department of Assessments and Taxation (SDAT) has updated its award-winning Maryland Business Express (MBE) site to now allow online filing of up to 10 years of overdue Annual Reports and Personal Property Tax Returns. This previously paper-based process will enable business owners to more quickly and easily bring their entities into good standing status and maintain or regain the ability to legally conduct business in Maryland.
“Maryland is Open for Business, and SDAT is doing its part by making it easier and faster than ever for busy business owners to get back on a path to success after failing to submit a required filing,” said SDAT Director Michael Higgs. “We are continuously working to launch new online services to improve the support and guidance our Department provides to Maryland’s hard working business owners.”
Eligible Maryland businesses now have the ability to conveniently submit overdue annual filings for up to 10 previous years online. This was formerly a service that was only available by mail or in-person during standard operating hours, but is now available 24/7 and can even be completed on a mobile device. Once completed, businesses can pay for multiple filings with one online payment and will be notified by the Department if there are any additional steps that need to be taken to regain good standing status. If a customer starts to complete an Annual Report or Personal Property Tax Return, but leaves the filing in incomplete status, they will be emailed a reminder to finish the form before it is deleted.
All business entities formed, qualified, or registered to do business in Maryland must file an Annual Report every year. If your business owns, leases, or uses personal property in Maryland and/or maintains a trader’s license with a local unit of government in Maryland, you must also file a Personal Property Tax Return. If you do not file the required documents by the annual deadline on April 15, your business will fall out of good standing status and may eventually be forfeited. If a business is forfeited, it no longer has the authority to conduct business in Maryland and has no right to its name.
While failure to submit required annual filings is the most common reason why a business entity falls out of good standing status, there are several other requirements that an entity must comply with in order to remain in good standing in Maryland. As an aid to Maryland businesses that have fallen out of good standing and are facing forfeiture in October, SDAT has launched a Potential Domestic Forfeiture Search.
This feature will allow customers to search the database using a Department ID number or entity name to determine the exact reason their business is not in good standing. With this information, customers can then take the necessary steps to resolving the issue and prevent forfeiture. If you have any additional questions about why your entity is facing forfeiture, please email firstname.lastname@example.org.
SDAT strongly recommends that all business owners sign up for our email distribution list to receive timely reminders about filing these important documents by the required deadline.