MarylandSaves Reminder: Deadline to apply for Personal Property Filing fee waiver is December 1st!
Business Owners – You MUST apply for the exemption EVERY year if you have a qualified retirement plan that is NOT a MarylandSaves plan.
The deadline to apply for the exemption is December 1st.
To receive a waiver of the $300 annual Personal Property filing fee:
- The business must be registered with Maryland and in good standing.
- Must have at least one W2 employee (Note: many Maryland LLC’s own only real estate—thus, not eligible for the fee waiver). But Schedule C/self-employed businesses can qualify even if no employees as long as there is retirement plan.
- The business either participates in the MarylandSaves retirement plan or has another qualified plan. You MUST apply for the exemption every year if you have a qualified plan that is not a MD Saves plan.
For additional information on the MarylandSaves program and to apply for your fee waiver, please access the MarylandSaves Website.