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§ 13-405. Transfers to stockholders, members, or partners

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 13. Transfer Taxes
Subtitle 4. County Transfer Taxes--in General
MD Code, Tax - Property, § 13-405
§ 13-405. Transfers to stockholders, members, or partners
Currentness
In general
(a) Except as provided in subsection (c) of this section, county transfer tax applies to conveyances that transfer the real property of a corporation to its stockholders, a limited liability company to its members, or a partnership to its partners on:
(1) liquidation;
(2) dissolution; or
(3) termination.
Tax on value of real property at the date of finality before date of transfer
(b) For a conveyance that is taxable under this section, county transfer tax applies to the value of the real property determined by the Department at the date of finality immediately before the date of transfer.
Exceptions
(c) A corporate, limited liability company, or partnership transfer as described in § 12-108(p), (q), (v), (w), (y), and (bb) of this article is not subject to the county transfer tax.

Credits

Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1986, c. 686; Acts 1992, c. 536; Acts 1996, c. 690, § 1, eff. July 1, 1996; Acts 1997, c. 683, § 1, eff. Oct. 1, 1997; Acts 2000, c. 692, § 1, eff. Oct. 1, 2000; Acts 2001, c. 573, § 1, eff. July 1, 2001.
Formerly Art. 81, § 277B.
MD Code, Tax - Property, § 13-405, MD TAX PROPERTY § 13-405
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document