Maryland HB358 exempts sales and use tax for elementary and secondary school book fairs.

Maryland HB358 amends the state's tax code to exempt sales and use tax for book fairs held in person on the premises of an elementary or secondary school. The net proceeds from these sales must be used solely for the educational benefit of the school or its students. This exemption applies to sales by the school itself, a nonprofit parent-teacher organization, or other nonprofit organization within the school. The bill also includes provisions for nonprofit organizations exempt from taxation under § 501(c)(3) of the Internal Revenue Code, provided the proceeds are used for exempt purposes.

Maryland HB358 exempts sales and use tax for elementary and secondary school book fairs.

Maryland HB358 amends the state's tax code to exempt sales and use tax for book fairs held in person on the premises of an elementary or secondary school. The net proceeds from these sales must be used solely for the educational benefit of the school or its students. This exemption applies to sales by the school itself, a nonprofit parent-teacher organization, or other nonprofit organization within the school. The bill also includes provisions for nonprofit organizations exempt from taxation under § 501(c)(3) of the Internal Revenue Code, provided the proceeds are used for exempt purposes.