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§ 7-303. Personal property taxation reciprocity

West's Annotated Code of MarylandTax-General

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 7. Death Taxes (Refs & Annos)
Subtitle 3. Maryland Estate Tax (Refs & Annos)
MD Code, Tax - General, § 7-303
§ 7-303. Personal property taxation reciprocity
In general
(a) Except as provided in subsection (b) of this section, the Maryland estate tax does not apply to the transfer of personal property in an estate of a nonresident decedent, if, at the time of death, the decedent is a resident of a state or foreign country whose law, when the personal property is transferred:
(1) does not impose death taxes on the transfer of similar personal property of a resident of this State; or
(2) contains a reciprocal exemption from death taxes similar to the exemption allowed under this subsection.
Transfers of tangible personal property
(b) The exemption under subsection (a) of this section does not include a transfer of tangible personal property that has a taxable situs in this State.

Credits

Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989.
Formerly Art. 81, § 174.
MD Code, Tax - General, § 7-303, MD TAX GENERAL § 7-303
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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