For immediate release:
February 4, 2022
“This forward thinking, pro-business legislation would give Maryland yet another competitive edge over neighboring states with lower fee structures" – SDAT Director Michael Higgs
ANNAPOLIS, MD – On Tuesday, February 8, 2022 at 2:30 p.m., the Senate Budget and Taxation Committee will hold a hearing on
SB403, Corporations and Associations – Annual Reports – Fees for Electronic Filings, a bill that will eliminate the filing fee for businesses that submit their annual report electronically.
This legislation:
- Makes Maryland the first state in the country to provide a zero-fee option for all businesses for this type of filing, which is required to be submitted every year with the Maryland State Department of Assessments and Taxation (SDAT) via the award-winning website Maryland Business Express.
- Amends Maryland's annual report fee structure to be among the most competitive in the nation, and incentivizes online filing, which is a more efficient and cost-effective filing method for businesses and the state.
- Brings much-needed relief to Maryland’s small business community, which continues to grow by historic numbers since the onset of the pandemic.
Maryland business owners are strongly encouraged to testify in favor of this legislation at Tuesday’s virtual hearing. Registration for oral and written testimony will be
CLOSING TODAY, February 4th, at 3:00pm.
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