Instructions For Form 500 - Maryland Corporation Income Tax Return - 2011 Page 12
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13clerk of the circuit court in the Maryland county
(or Baltimore City) where the business operates.
A circuit court is located in each of those
jurisdictions.
OTHER REQUIREMENTS
Bulk Sales When an existing business is
bought, the purchaser must pay a 6% bulk sales
and use tax on the price of tangible personal
property, such as furniture and fixtures, that is
part of the business. This tax is collected by the
Compliance Division of the Comptroller’s Office.
Dissolution of Corporation Articles of
Dissolution must be filed with the Department of
Assessments and Taxation for the dissolution of
a corporation. A tax clearance certificate is no
longer required for the dissolution of a
corporation.
Unclaimed Property Unclaimed funds such
as wages, insurance benefits, bank accounts or
security deposits must be reported if they
remain unclaimed for three years. This property
must be reported to the Compliance Division.
NOTE: The information provided on this page is
a brief summary of the various Maryland
business requirements and is based on the law
in effect as of 7/1/11. For additional information,
see the reverse side for the addresses and
phone numbers of the Maryland agencies most
frequently contacted by businesses.
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