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To: xoxox
Never heard of it? Maryland has had the exit tax for a while. if you arent a permanent resident for 5 years they tax your home sale. -

When you sell real estate in Maryland and are not a resident of the State of Maryland, you need to be aware of the non-resident withholding tax. Since 2003, the State of Maryland has mandated the withholding of income tax on the sale of all real property by non-resident individuals and non-resident entities. The settlement company is required to collect the tax at closing and remit payment along with the deed recording. As of 2019, the withholding tax is 7.5% for non-resident individuals and 8.25% for non-resident entities.

26 posted on 03/20/2024 6:59:28 AM PDT by Ikeon
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To: Ikeon

I sold in Maryland in 2014 to Florida. I don’t remember that tax at all.


33 posted on 03/20/2024 7:11:12 AM PDT by napscoordinator (DeSantis is a beast! Florida is the freest state in the country! )
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To: Ikeon

Never heard of this: https://freerepublic.com/focus/chat/4225557/posts?page=7#4


34 posted on 03/20/2024 7:17:02 AM PDT by xoxox
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