If your business operates in Maryland, you may be eligible for a $300 exemption under the MarylandSaves Credit program. Here’s what you need to know:

Qualifications for the Exemption:

1. Your business has operated in Maryland for the last two calendar years.
2. You already have an established 401(k) or SIMPLE IRA plan.
3. You are required to file an annual Personal Property Return in Maryland.
4. The fee can be waived through the MarylandSaves Credit program.

To claim the $300 exemption, visit MarylandSaves.org and complete the form, which can be found at the bottom of the page.

Important Deadline:

If you file a Maryland Personal Property Return (MDPPT), you must complete the 2025 SDAT Annual Report Filing Fee Waiver by December 31, 2024. Forms received after this date will only qualify for the 2026 waiver, not 2025.

Additionally, the form must be completed annually unless you are part of the MarylandSaves Program.

Act now to take advantage of this valuable exemption. If you have questions or need assistance, our team is here to help - contact your Client Relationship Manager today!