Nonresident Seller Withholding Tax

If you are a nonresident seller who owned and sold or transferred real property in Maryland, the proceeds of that sale may be subject to Maryland's Nonresident Seller Withholding Tax.

This tax can substantially affect the profits you stand to make on the sale of a property. In fact, in the case of a nonresident individual, the payment is 7.5% of the total proceeds.

To find out more about this tax and how it might affect your sale of a property, read Maryland's Withholding Requirements for Sales or Transfers of Real Property and Associated Personal Property by Nonresidents.

If you are a nonresident seller in Maryland, we recommend that you contact your accountant or tax consultant to determine exactly how your sale will be impacted by this tax.

HANNON GROUP

Jesse Hannon: (410) 215-7131
Jeri Hannon: (410) 215-4201
Chevelle Welsh: (410) 967-9498
Office: (410) 274-1938

Email: Info@HomesByHannon.com

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Jesse and Jeri Hannon are the sole owners of the information collected on this site. Neither Jesse and Jeri Hannon, nor the team associates, will sell, share, or rent this confidential information to others. Your privacy is the primary issue for Jesse and Jeri Hannon.

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By submitting personal information such as name, address, phone number, email address and/or additional data, the client/prospect gives permission to Jesse and Jeri Hannon or their authorized representatives to contact client/prospect by phone, U.S. Postal System, or email. Permission extends whether or not client/prospect is participating in a state, federal or other "do not contact" program of any type.

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