Form Mw506ae - Application For Certificate Of Full Or Partial Exemption - 2013 Page 4
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4able amount.
Required documentation: Copy
a partial exemption. This section must be
of agreement governing transfer
completed or the application for partial
b. Transfer is pursuant to a tax-free re-
between transferor and transferee;
exemption will be denied.
organization as described in § 361
certified copy of Articles of Incor-
of the Internal Revenue Code.
Signature(s)
poration of transferor; Certificate of
Required documentation: Copy
Form MW506AE must be signed by an
Good Standing of transferor issued
of agreement governing the transfer
individual (both taxpayer and spouse, if
by the state in which transferor is
between transferor and transferee;
filing a joint Maryland income tax return), or
incorporated.
Certificates of Good Standing of
a responsible corporate officer.
g. Transfer is pursuant to a condemna-
transferor and transferee issued by
Please include a daytime telephone number
tion and conversion into a similar
the state(s) in which transferor and
where you can be reached between 8:00 AM
property for purposes of §1033 of
transferee are incorporated; copy of
and 5:00 PM.
the Internal Revenue Code.
the plan or reorganization showing
Your
signature(s)
signifies
that
your
that transferor and transferee are
Required documentation: Copy
application, including all attachments, is,
parties to the reorganization; and
of agreement governing transfer
to the best of your knowledge and belief,
an appraisal establishing the fair
between
transferor
and
govern-
true, correct and complete, under penalties
market value, at the time of the ex-
ment body or authority condemn-
of perjury.
change, of any property other than
ing the property; notarized affidavit
stock or securities in the transferee
executed by transferor stating that
If
a
power
of
attorney
is
necessary,
which is part of the consideration for
transferor will identify and purchase
complete federal Form 2848 and attach to
the exchange and will not be distrib-
replacement property within the
your application.
uted by the transferor in pursuance
time limits required by §1033 of the
Where to File
of the plan of reorganization. The
Internal Revenue Code, or copy of
Mail the completed form and all attachments
fair market value of any such other
contract of sale if transferor has al-
to:
property and/or any money which
ready identified replacement prop-
is part of the consideration for the
erty. If proceeds from condemnation
Comptroller of Maryland
exchange must be stated on the ap-
exceed price of replacement proper-
Revenue Administration Division
plication as the taxable amount.
ty, the excess must be stated on the
Attn: NRS Exemption Requests
application as the taxable amount.
P.O. Box 2031
c. Transfer is by a tax-exempt entity
Annapolis, MD 21404-2031
for purposes of § 501(a) of the In-
h. Transfer is between spouses or in-
ternal Revenue Code and transfer
cident to divorce for purposes of
E-mail
the
completed
form
and
all
involves limited or no unrelated
§1041 of the Internal Revenue
attachments to nrshelp@comp.state.md.us
business taxable income under §
Code.
NOTE: The e-mail submission will not
512 of the Internal Revenue Code.
Required documentation: Copy of
expedite the processing of your application.
Required documentation: Copy
marriage license or divorce decree;
Additional Information
of determination by the Internal
copy of deed which will be recorded
Revenue Service that transferor is
to accomplish the transfer; if inci-
For
additional
information
visit
www.
a tax-exempt entity for purpose of
dent to divorce, copy of section of
, e-mail nrshelp@comp.
§501(a) of the Internal Revenue
court order or separation agreement
state.md.us or call 1-800-MDTAXES (1-
Code; Certificate of Good Standing
governing transfer of the property.
800-638-2937) or 410-260-7980 in Central
of transferor issued by the state in
Maryland.
i. Transfer is treated as a transfer by
which transferor is incorporated;
an S corporation for purposes of
notarized affidavit executed on be-
§1368 of the Internal Revenue.
half of transferor by its President
Line 7. Other. The transfer is otherwise
and by its Treasurer stating that the
fully or partially exempt from the
transfer involves limited or no unre-
recognition of gain in accordance
lated business income under § 512
with provided explanation.
of the Internal Revenue Code.
Required documentation: Attach
d. Transfer is to a partnership in ex-
any and all documents necessary
change for an interest in the part-
to show that the transfer is fully
nership such that no gain or loss is
or partially exempt from tax. This
recognized under § 721 of the Inter-
may include a copy of contract of
nal Revenue Code.
sale or copy of estimated HUD-
Required documentation: Copy
1 settlement sheet from the title
of agreement governing transfer
company; copy of HUD-1 settlement
between transferor and transferee;
sheet from purchase of property,
copy of the partnership agreement
if
claiming
settlement
expenses
of the transferee.
as part of adjusted basis; and
e. Transfer is by a partnership to a
receipts and invoices for any capital
partner of the partnership in ac-
improvements you are claiming.
cordance with § 731 of the Internal
Address to Mail Certificate if Issued
Revenue Code.
Please provide the name and address of
Required documentation: Copy
the person to whom we should mail the
of agreement governing transfer
exemption certificate if issued. Please note
between transferor and transferee;
you are authorizing disclosure of your Social
copy of the partnership agreement
Security number if the recipient is a third
of the transferor.
party (i.e., title company, settlement agent)
f. Transfer is treated as a transfer by a
because your Social Security number is
real estate investment trust for pur-
printed on the exemption certificate.
poses of §857 of the Internal Rev-
Calculation of Tax to be Withheld
enue Code.
Complete this section if you are requesting
COM/RAD-306
12-49
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