BALTIMORE, MD—The Maryland Department of Assessments and Taxation (SDAT) this week announced the availability of 2022 annual reports, personal property tax returns, and extension requests for businesses registered in Maryland. All domestic and foreign business entities must file an annual report or request an extension by April 15, 2022 to maintain their “good standing” status.

“Since the onset of the pandemic, the number of new businesses registered with the state has surged by historic numbers – 91,929 in 2020 and 84,822 in 2021 – and SDAT has implemented 15 new online filing features, making us well-poised to serve every business that chooses to file online,” said SDAT Director Michael Higgs. “These impressive numbers prove that Maryland’s economy is on the road to recovery, and we look forward to continuing to provide all of our customers with the best service possible.”

SDAT officials say the quickest and easiest way to submit filings is through SDAT’s Maryland Business Express website. Once received, annual reports filed online are posted the next business day. Businesses that request a two-month filing extension through SDAT’s online extension system will have a deadline of June 15, 2022.

All businesses in Maryland must file an annual report yearly to maintain “good standing” status. Any business that owns, leases, or uses personal property in Maryland and/or maintains a trader’s license with a local unit of government in Maryland must file a personal property tax return.

If documents are not filed by the deadline, the business falls out of “good standing” status and may enter “forfeited” status soon thereafter. Any business that is currently not in good standing because of failure to submit previous annual filings may now file up to ten years of overdue annual reports and personal property tax returns online to regain the ability to legally conduct business in Maryland.

For more information about the required annual filings or to view the status of a business, visit the Maryland Business Express page on maintaining “good standing” status. To view entity filings for free online and review the legal status of a business, access the Maryland Business Express Entity Search.

Processing times for charter filings can be viewed on Maryland Business Express.

Photo via Pixabay