Maryland HB294 alters personal property tax exemptions for businesses with property valued under $20,000.
Maryland HB294 modifies the personal property tax exemptions for businesses. Beginning after June 30, 2026, businesses with personal property valued under $20,000 will not be required to submit personal property tax returns or provide property information to the State Department of Assessments and Taxation. This change aims to simplify the tax process for qualifying businesses.
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