Form Mw506nrs - Return Of Income Tax Withholding For Nonresident Sale Of Real Property - 2011 Page 3

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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 C - For Transferor/Seller (Records Copy).
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.
Specific Instructions for Transferor/Seller
This tax, and any other tax paid with the Form 510 must be
allocated to the nonresident shareholders, partners or
How to claim the tax withheld
General Instructions
members and reported on a modified federal Schedule K-1
The manner in which the income tax withheld is claimed
or Maryland statement. All tax allocated to a nonresident
by the nonresident individual or nonresident entity
shareholder, partner or member must be claimed as a
Purpose of Form
depends on the type of Maryland income tax return you
nonresident tax paid by S corporations, or other
Form MW506NRS is designed to assure the regular and
are required to file. Follow the specific instructions below.
unincorporated business entities.
timely collection of Maryland income tax due from
Claiming the income tax withheld on a line other than
nonresident sellers of real property located within the
as described below may result in the withholding being
Trusts and Estates
State. This form is used to determine the amount of
denied.
Trustees of trusts and personal representatives of estates are
income tax withholding due on the sale of property
required to file a Maryland Fiduciary Income Tax Return (Form
and provide for its collection at the time of the sale or
Individuals and Revocable Living Trusts
504). The income tax withheld and reported on Line 8 of the
transfer.
Nonresident individuals are required to file a Nonresident
Form MW506NRS must be claimed as an estimated tax
Maryland Income Tax Return (Form 505). The income tax
payment.
Who must file
withheld and reported on Line 8 of the Form MW506NRS
A nonresident individual or nonresident entity that sells
must be claimed as an estimated income tax payment.
real property located in Maryland must file a Maryland
income tax return. The appropriate income tax return
C Corporations
must be filed for the year in which the transfer of the real
C corporations are required to file a Maryland
property occurred. The due date for each income tax
Corporation Income Tax Return (Form 500). The
return type can be found in the instructions to the spe-
income tax withheld and reported on Line 8 of the
cific income tax return.
Form MW506NRS must be claimed as an estimated
income tax payment.
What to file
The nonresident individual or nonresident entity must file
S Corporations, Partnerships and Limited Liability
the appropriate Maryland income tax return for the year
Companies and Business Trusts
in which the transfer of the property occurred. Do NOT
S corporations, partnerships and limited liability
submit Copy C of the Form MW506NRS with the return
companies and business trusts that elect to be treated
filed with the Comptroller of Maryland. See the specific
as pass-through entities must file a Maryland Pass-
instructions for the tax return being filed.
Through Entity Income Tax Return (Form 510). The
income tax withheld and reported on Line 8 of the
Form MW506NRS must be claimed as an estimated
income tax payment.

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