Withholding Rate on Sales of Maryland Real Estate
by Non-Resident Sellers Was Reduced as of January 1, 2011
The rate of withholding taxes to be withheld and paid to the Clerk on the sale of real estate by non-residents in Maryland has been lowered, effective January 1, 2011 from 7.5% to 6.75%.
However, the rate of withholding on non-Maryland entities (i. e. entities that were not formed in Maryland and/or which have not qualified or registered to do business in Maryland) remains at 8.25%.
