Form Mw506nrs - Maryland Return Of Income Tax Withholding For Nonresident Sale Of Real Property - 2012 Page 2

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2012
Form
Maryland Return of Income Tax Withholding
MW506NRS
for Nonresident Sale of Real Property
1. Description and address of property transferred (include property account
7. Transferor/Seller is:
ID number)
An Individual/Estate/Trust
A Partnership
A Corporation
An S Corporation
A Business Trust
A Limited Liability Company
8. Computation of Total Payment and Tax to be Withheld (See Instructions)
3. Check box if the transferor/
2. Date of transfer
a. Total sales price
$ ____________
seller is reporting gain under
the installment method
b. Less selling expenses
____________
c. Net sales price
____________
4. Transferor/Seller’s identification no.
5. Spouse’s SSN
d. Less debts secured by mortgages or
(SSN or FEIN) (Enter only one number)
other liens on the property
____________
e. Total payment
____________
6. Transferor/Seller’s name (Enter only one name, unless husband and wife filing
f. Transferor/Seller’s ownership percentage
____________
a joint return. If more than one transferor/seller, use separate forms for each)
g. Transferor/Seller’s share of total payment ____________
h. Enter h(1) or h(2) whichever applies
}
(1) If a business entity - 8.25%
Street address
(2) If an individual/estate/trust - 7%
____________
i. Maryland Income Tax withheld (Multiply
Line g by Line h) (If certificate of partial
City, state and ZIP code
exemption granted, enter amount from
$
Line 3 of the Form MW506E)
COM/RAD-308 (Rev. 06/12)
11-49
Copy B - For Clerk of the Court
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.
(Rev. 06-12)

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