Goldstein & Levy, P.A., General Counsel
January 12, 2011 | Withholding Rate on Sales of MD Real Estate by Non-Resident Sellers
Reduced as of January 1, 2011
The rate of withholding taxes to be withheld and paid to the Clerk on the sale of real estate by non-residents in MD has been lowered, effective January 1, 2011 from 7.5% to 6.75%. The rate of withholding on non-MD entities (i. e. entities that were not formed in MD and/or which have not qualified or registered to do business in MD) remains at 8.25%.
If you have questions or need assistance with a transaction in which the Seller is a non-MD resident, please contact any of