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§ 7-240. Nonprofit organizations

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 7. Property Tax Exemptions
Subtitle 2. General Property Tax Exemptions
MD Code, Tax - Property, § 7-240
§ 7-240. Nonprofit organizations
Currentness
Personal property is not subject to property tax if the property:
(1) is owned by a nonprofit organization that:
(i) is qualified as tax exempt under § 501(c)(4) of the Internal Revenue Code; and
(ii) is engaged primarily in providing a program to render its best efforts to contain, clean up, and otherwise mitigate spills of oil or other substances occurring in United States coastal and tidal waters; and
(2) is used for the purposes of the organization.

Credits

Added by Acts 1997, c. 382, § 1, eff. July 1, 1997.
MD Code, Tax - Property, § 7-240, MD TAX PROPERTY § 7-240
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document