Business Personal Property
Taxscribe for Maryland Business Owners & CPAs
Modern personal property tax filing for Maryland — prepare your return in minutes, import fixed assets, and e-file to participating jurisdictions or email a print-ready PDF to your local assessor.
What is Business Personal Property tax?
In Maryland, there is a tax on business-owned personal property that is imposed and collected by local governments. Personal property generally includes business property including, furniture, fixtures, office and industrial equipment, machinery, tools, supplies, inventory, and any other property not classified as real property.
Who should file Business Personal Property?
Form 2 must be filed by all sole proprietorships and general partnerships if they possess (own, lease, rent, use or borrow) business personal property or need a business license.
- Filing deadline
- The due date for filing is April 15th, of the filing year. If April 15th falls on a weekend, the return will be due on the Monday immediately following.
- Late penalty
- A business which files an annual return postmarked after the due date of April 15 of filing year (or June 16 if an extension is approved) will receive an initial penalty of 1/10 of one percent of the county assessment, plus interest at the rate of two percent of the initial penalty amount for each thirty (30) days or part thereof that the return is late.
When you should file:
The due date for filing is April 15th, of the filing year. If April 15th falls on a weekend, the return will be due on the Monday immediately following.
Extensions:
The department may grant a 60 day extension to file the return. The due date on extension will be June 16th.
Exemptions:
- For manufacturing exemption requests, an application must be submitted on or before September 1, of the initial assessment year or within 6 months after the date of the first assessment notice for the taxable year that includes the manufacturing personal property in order to qualify for the current tax year.
- Property tax exemptions provided by statute shall be strictly construed. Before an exemption can be obtained, the taxpayer must show affirmatively that the exemption is clearly allowed.
- Businesses may file amended returns to correct reporting errors or claim missed exemptions (except for missed manufacturing exemptions) within three years of the April 15 date that the return was originally due.
- If exemption is claimed for the first time, a manufacturing/research & development exemption application must be submitted on or before September 1 of filing year before the exemption can be granted, or within 6 months after the date of the first assessment notice for the taxable year that includes the manufacturing personal property in order to qualify for the current tax year.
- Exemption applications can be submitted via email to sdat.ppaudit@maryland.gov
Important Notes About Business Personal Property:
- You may request a 60 day extension of the filing deadline, at no cost, by visiting https://pprextensions.dat.maryland.gov/. Extension requests must be made on or before April 15th.
- A business which files an annual return postmarked after the due date of April 15 of filing year (or June 16 if an extension is approved) will receive an initial penalty of 1/10 of one percent of the county assessment, plus interest at the rate of two percent of the initial penalty amount for each thirty (30) days or part thereof that the return is late.
Coverage
How Taxscribe works in Maryland
Taxscribe supports Business Personal Property filing across Maryland. Where your jurisdiction participates in Taxscribe's e-file program, you can submit directly; elsewhere, generate a print-ready PDF and email or mail it to your local assessor. Contact us to see if your jurisdiction participates.