Form Mw506nrs - Return Of Income Tax Withholding For Nonresident Sale Of Real Property - 2011 Page 2

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Maryland
Return of Income Tax Withholding for
2011
Form
Nonresident Sale of Real Property
MW506NRS
Comptroller of Maryland
Revenue Administration Division
Annapolis, Maryland 21411-0001
7. Transferor/Seller is:
1. Description and address of property transferred (include property account ID number)
An Individual/Estate/Trust
A Partnership
A Corporation
An S Corporation
A Business Trust
A Limited Liability Company
2. Date of transfer
3. Check box if the transferor/seller
8. Computation of Total Payment and Tax to be Withheld (See Instructions)
is reporting gain under the
$
a. Total sales price
________________________
installment method
b. Less selling expenses
_________________________
4. Transferor/Seller’s identification no.
5. Spouse’s SSN
c. Net sales price
________________________
(SSN or FEIN) (Enter only one number)
d. Less debts secured by mortgages or other
liens on the property
________________________
6. Transferor/Seller’s name (Enter only one name, unless husband and wife filing a joint
e. Total payment
________________________
return. If more than one transferor/seller, use separate forms for each)
f. Transferor/Seller’s ownership percentage
________________________
g. Transferor/Seller’s share of total payment
________________________
Street address
h. Enter h(1) or h(2) whichever applies
}
(1) If a business entity - 8.25%
(2) If an individual/estate/trust - 6.75%
________________________
i. Maryland Income Tax withheld
City, state, and ZIP code
(Multiply Line g by Line h)
$
(If certificate of partial exemption granted,
enter amount from Line 3 of the Form MW506E)
Copy B - For Clerk of the Court
COM/RAD-308 (Rev. 12/10)
INSTRUCTIONS FOR RETURN OF INCOME TAX WITHHOLDING FOR
NONRESIDENT SALE OF REAL PROPERTY (FORM MW506NRS)
THERE ARE FOUR COPIES OF FORM MW506NRS.
General Instructions
Purpose of Form
Form MW506NRS is designed to assure the regular and
timely collection of Maryland income tax due from
nonresident sellers of real property located within the
State. This form is used to determine the amount of
income tax withholding due on the sale of property
and provide for its collection at the time of the sale or
transfer.
What to file
A copy of each Copy A will be filed with Form
MW508NRS on or before the 21st day of the month
following the month in which the Form MW506NRS is
filed with the Clerk of the Circuit Court. The Clerk of the
Circuit Court shall remit the forms to the Comptroller of
Maryland in accordance with the instructions for Form
MW508NRS.

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