Prepare for the Upcoming Maryland Business Personal Property Tax Deadline

Everyone knows the importance of April 15 when it comes to income tax.  But why is April 15 also an important date for Maryland business personal property taxes?

All 2024 initial business personal property tax returns filed with the Maryland State Department of Assessments and Taxation (SDAT) are due by April 15. The only exception is when taxpayers are granted a 60-day extension to file the return.

On top of that, according to the Annotated Code of Maryland, Sec. 11-103(a), a taxpayer may submit an amended property tax return on or before 3 years from when the original return was due.

So, April 15, 2024 will also be the final deadline to file an amended return for the 2021 tax year (the return that was originally due April 15, 2021).

If you feel a prior year’s Maryland business personal property return was filed incorrectly, you can submit an amended return or refund claim for up to the last 3 tax years.

To submit an amended return or refund claim, you must have:

• Justification and support for the prior filing error.
• The associated fixed asset ledger reconciled to your general ledger.
• The submission compiled with acceptable refund claim parameters.

For help with meeting the April 15 deadline, talk to our business personal property experts.