1. A. Unless the transfer is fully exempt from the withholding requirements of this chapter, the transferee or real estate reporting person shall:

   1. (1) Withhold at settlement the tax required under Regulation .03B(1) of this chapter; and
   2. (2) Remit the tax to the clerk or to the Department in accordance with Regulation .06 of this chapter.
2. B. A Return of Income Tax Withholding for Nonresident Sale of Real Property (Form MW506NRS) is required for each transferor for each transfer in which tax was withheld.

Authority: Tax-General Article, §§2-103 and 10-912, Annotated Code of Maryland

Effective date:

Regulations .01—.08 adopted as an emergency provision effective October 1, 2003 (30:22 Md. R. 1574); emergency status extended at 31:22 Md. R. 1594; emergency status expired March 31, 2005

Regulations .01—.08 adopted as an emergency provision effective April 1, 2005 (32:11 Md. R. 981); adopted permanently effective July 18, 2005 (32:14 Md. R. 1275)

Regulation .01 amended effective October 22, 2007 (34:21 Md. R. 1913)

Regulation .02B amended effective October 22, 2007 (34:21 Md. R. 1913); May 2, 2022 (49:9 Md. R. 529)

Regulation .03B amended effective March 21, 2011 (38:6 Md. R. 393)

Regulation .04C amended effective May 2, 2022 (49:9 Md. R. 529)

Regulation .08 amended effective May 2, 2022 (49:9 Md. R. 529)

Regulation .08A amended effective October 22, 2007 (34:21 Md. R. 1913); April 19, 2010 (37:8 Md. R. 614); July 8, 2013 (40:13 Md. R. 1073)