Maryland HB98 allows beneficiaries of limited means to pay inheritance tax in installments if paying in full would require selling their primary.

Maryland HB98 introduces an installment payment plan for inheritance tax for beneficiaries of limited means. This plan applies if paying the tax in full would necessitate selling the beneficiary's primary residence or agricultural land. The beneficiary must meet specific income criteria to qualify. The Register of Wills determines the installment schedule and amount. The bill defines "beneficiary of limited means" and "eligible real property" and outlines the application process.

Maryland HB98 allows beneficiaries of limited means to pay inheritance tax in installments if paying in full would require selling their primary.

Maryland HB98 introduces an installment payment plan for inheritance tax for beneficiaries of limited means. This plan applies if paying the tax in full would necessitate selling the beneficiary's primary residence or agricultural land. The beneficiary must meet specific income criteria to qualify. The Register of Wills determines the installment schedule and amount. The bill defines "beneficiary of limited means" and "eligible real property" and outlines the application process.