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How are LLCs taxed by the State of Maryland?

 

A: Maryland LLCs that elect to be classified as either a corporation or a partnership for federal income tax purposes must file a corresponding Maryland state income tax return.  However, for single-member LLCs which are treated as disregarded entities for federal income tax purposes reflect the profit of loss of the LLC on the sole member's individual Maryland income tax return.

Note that regardless of tax classification, all Maryland LLCs must file an annual personal property tax report with the Department of Assessments and Taxation of the State of Maryland ("SDAT"). 


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The Kramer Law Firm LLC represents small business clients throughout Washington, D.C. and Montgomery and Prince George's Counties in Maryland, including the communities of Bethesda, Bowie, Chevy Chase, Gaithersburg, Germantown, Laurel, Potomac, Rockville and Silver Spring and all of the surrounding areas.

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