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Maryland Tax Law Questions & Answers
2 Answers | Asked in Employment Law, Tax Law, Business Law and Social Security for Maryland on
Q: My current employer sent my form 1095C to a another employee with the same first name and exposed my SS#, can I sue?

They exposed my SS# and other private info. What recourse do I have?

James L. Arrasmith
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answered on Mar 14, 2024

Discovering that your employer accidentally sent your Form 1095-C, containing sensitive information like your Social Security Number, to another employee is understandably alarming and frustrating. Such incidents can lead to concerns about privacy and the potential for identity theft. In terms of... View More

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2 Answers | Asked in Employment Law, Tax Law, Business Law and Social Security for Maryland on
Q: My current employer sent my form 1095C to a another employee with the same first name and exposed my SS#, can I sue?

They exposed my SS# and other private info. What recourse do I have?

Mark Oakley
Mark Oakley
answered on Mar 15, 2024

Perhaps there is a federal or state governmental agency that has regulatory authority to impose a fine or other sanction for failing to safeguard employees’ personally identifiable information. You would need to consult an employment lawyer in your area as to the existence of such a legal... View More

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1 Answer | Asked in Tax Law for Maryland on
Q: Is there any way I can argue the cost basis of shares of stock I sold ?

Etrade used the cost basis of xyz stock I bought at $76 even though I held the stock and subsequently added to my shares buying blocks of the xyz shares at much higher prices.

James L. Arrasmith
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answered on Feb 22, 2024

If the cost basis of your shares has been reported inaccurately, there are steps you can take to argue and adjust this. The cost basis of a stock is crucial for calculating capital gains or losses for tax purposes, and it should accurately reflect the purchase price of your shares, including any... View More

3 Answers | Asked in Real Estate Law and Tax Law for Maryland on
Q: My mother passed and I am selling her house. She had a reverse mortgage with balance of 393,000. The appraised value

is 473,300. How much would the estate tax be? I live in Md

James L. Arrasmith
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answered on Feb 22, 2024

When dealing with the sale of a property from an estate, such as your mother's house with a reverse mortgage, the primary concern for taxes would typically involve capital gains tax, estate tax, or inheritance tax, depending on various factors including the total value of the estate and the... View More

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3 Answers | Asked in Real Estate Law and Tax Law for Maryland on
Q: My mother passed and I am selling her house. She had a reverse mortgage with balance of 393,000. The appraised value

is 473,300. How much would the estate tax be? I live in Md

Mark Oakley
Mark Oakley
answered on Feb 17, 2024

If this is the primary asset and all estate assets are being distributed to a spouse or lineal heirs (children, grandchildren, siblings, parents) there are no inheritance taxes, and no estate tax for estates having a value below $5,000,000. For calculating estate value for estate tax purposes,... View More

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3 Answers | Asked in Real Estate Law and Tax Law for Maryland on
Q: My mother passed and I am selling her house. She had a reverse mortgage with balance of 393,000. The appraised value

is 473,300. How much would the estate tax be? I live in Md

Cedulie Renee Laumann
Cedulie Renee Laumann
answered on Feb 13, 2024

Maryland has several different "death taxes" and it really isn't possible to define the taxes without knowing the full context. If an attorney is assisting with the estate they should be able to discuss these in depth based on the specifics of your situation. However, generally... View More

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1 Answer | Asked in Cannabis & Marijuana Law, Consumer Law, Tax Law and Business Law for Maryland on
Q: What regulations are involved with Cannabis Accessory e-commerce in the state of Maryland?

I am looking into creating an E-commerce site that sells Cannabis Accessories (Grinders, Pipes, Etc). I have no intention on selling any CBD products.

James L. Arrasmith
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answered on Jan 28, 2024

Here are the key regulations around selling cannabis accessories online in Maryland:

1. Legal to sell cannabis accessories - Maryland has legalized cannabis accessories, so products like grinders, rolling papers, pipes, bongs, etc are legal to sell to adults over 21.

2. No sale of...
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1 Answer | Asked in Tax Law for Maryland on
Q: Do I count my child's income for medicaid?
James L. Arrasmith
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answered on Jan 4, 2024

When applying for Medicaid in Maryland, your child's income may need to be considered, depending on their age and the specific circumstances. For children under the age of 21, their income is typically not counted towards the household income for Medicaid eligibility purposes. This is based on... View More

1 Answer | Asked in Consumer Law, Contracts, Family Law and Tax Law for Maryland on
Q: I terminated services with a daycare provider and the provider is refusing to provide a receipt. What should I do?

The licensed provider did not require a contract however just the required forms to be completed for state regulation. However there are emails and text messages showing the business relationship for an 8 month period.

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answered on Sep 14, 2023

If the daycare provider is refusing to provide a receipt, you can take the following steps:

1. Communicate Clearly: Send a polite and formal written request, preferably via email or text message, asking for the receipt. Mention any relevant details like the dates of service and payment...
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1 Answer | Asked in Real Estate Law and Tax Law for Maryland on
Q: Hi, Md. gen. family partnership wants to trans. land into an LLC, said LLC to be owned by two corps.

Two corps. owned by same family members in same percentages.

LLC would be owned by corps., not the exact same people, but those same people own same respective percentage of shares.

Does partnership have to consolidate or dissolve?

What exceptions to transfer and recordation... View More

Cedulie Renee Laumann
Cedulie Renee Laumann
answered on Jun 16, 2023

Most real estate lawyers should be able to assist with such a transfer and the applicable deed affidavits and forms.

The transfer you describe (from a general partnership to 2 corporations owned by different owners than the general partnership) sounds like it would be subject to...
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2 Answers | Asked in Tax Law and Criminal Law for Maryland on
Q: Hi i own a store in Maryland and we didn’t know about tobacco products tax

we have got 2 tickets there code

TG.13.1014.b

BR 16.5-218

Mark Oakley
Mark Oakley
answered on Jun 11, 2023

The Tax-General code citation is a criminal misdemeanor that carries up to 90 days in jail and a $500 fine, and the Business Regulation code citation is a criminal misdemeanor that carries up to 30 days in jail and a $1,000 fine. Both are "must appear" charges, meaning you can't... View More

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1 Answer | Asked in Tax Law and Real Estate Law for Maryland on
Q: If a land parcel is owned by the same parties equally but a portion is held in a llc and other held as individuals.

Can the all the sales proceeds be just allocated to the LlC and just zero proceeds to the Individuals so no 1099 will be issued ?

Mark Oakley
Mark Oakley
answered on May 8, 2023

The individual owners should have deeded their interest to the LLC before the sale, if they wanted the proceeds all deemed income to the LLC. While the individual owners may be able to direct payment to the LLC, or deposit their checks into the LLC bank account, I believe at this point that will... View More

1 Answer | Asked in Business Formation, Business Law and Tax Law for Maryland on
Q: Can someone abandon their LLC business and debt to then open a fresh new LLC offering and providing the same services

What is it called when someone abandons their LLC business, which is deeply in debt and owes back taxes, to then have someone else open a new LLC for them and that new LLC offer the very same services? Is it legal? It is essentially a one person business and without that person the new business... View More

Mark Oakley
Mark Oakley
answered on Mar 23, 2023

More facts would be needed, but it is possible to pierce the corporate veil of the new company and go after the owner personally, or unwind the transfers of assets to the new company, under the theory of fraudulent conveyance, as well as violation of the Limited Liability Company Act that requires... View More

1 Answer | Asked in Tax Law and Estate Planning for Maryland on
Q: My wife and I have a revocable trust that holds the deed for our primary residence and an investment rental property.

My wife and her son bought an additional rental property with the deed in their names. What are the tax considerations of leaving that property separate from the trust vs transferring the deed to the trust. Her son is the executor of the revocable trust.

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answered on Mar 4, 2023

The tax considerations of leaving the rental property in your wife and her son's names versus transferring the deed to the revocable trust will depend on several factors, including the ownership percentage, rental income, and capital gains implications. Here are some general tax... View More

2 Answers | Asked in Tax Law, Real Estate Law and Probate for Maryland on
Q: Maryland Inheritance tax calculation. Based on amount before or after federal and state tax deductions?

I think I understand the "death" taxes in Maryland, but I am not positive on the calculations.

Are all taxes based on the value of the gross estate, or are some calculated based on the value after other taxes have been deducted?

For example:

Gross value of estate... View More

Cedulie Renee Laumann
Cedulie Renee Laumann
answered on Feb 27, 2023

Maryland inheritance tax is based on the relationship of the giver to the recipient, and is not tied to other death taxes, so on a $20M estate this could be $2M, $0 or nearly anything in between. (And if the tax is paid "outside" of the gift, Maryland will "tax the tax" and... View More

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2 Answers | Asked in Tax Law, Real Estate Law and Probate for Maryland on
Q: Maryland Inheritance tax calculation. Based on amount before or after federal and state tax deductions?

I think I understand the "death" taxes in Maryland, but I am not positive on the calculations.

Are all taxes based on the value of the gross estate, or are some calculated based on the value after other taxes have been deducted?

For example:

Gross value of estate... View More

Mark Oakley
Mark Oakley
answered on Feb 26, 2023

Taxes are imposed on the gross estate. There are exemptions, credits and deductions that are/may be applicable. You absolutely need to pay a CPA to do these taxes for this size of an estate, as well as have estate counsel for the estate administration (or trust distribution). There are too many... View More

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1 Answer | Asked in Tax Law for Maryland on
Q: My question is about trying to purchase my deceased grandparents property that may soon go into a tax lien situation.

My grandparents are deceased and their property passed equally to their four siblings. I am one of their daughters. The siblings rented the property before but are now nearing 90 years old and can't do it anymore. They understand that in reality the property needs to be sold but they are... View More

James L. Arrasmith
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answered on Apr 11, 2024

In this complex situation, there are a few potential options to consider:

1. Partition action: As a co-owner of the property, you have the right to file a partition action in court. This legal action forces the sale of the property and division of the proceeds among the co-owners. However,...
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1 Answer | Asked in Criminal Law, Tax Law, Banking and Federal Crimes for Maryland on
Q: I lied and disputed 1,500 from betmgm. There's already 1,200 in the account that the bank gave back. Can I be arrested?

Hello, I made a stupid decision. I opened an m&t checking and savings account last month on the 18th. A few days ago, I downloaded bet mgm (an online gambling site) and placed a few bets. I had just gotten paid 1,000 from my current job.. So I bet with that money and ended up with $1500. So... View More

Scott Scherr
Scott Scherr
answered on Nov 3, 2023

You should stop posting information online since you have admitted to a crime. You could be charged with fraud and theft. I would not speak further with anyone about this case. You should retain counsel if you are charged.

1 Answer | Asked in Tax Law for Maryland on
Q: If im exempt from pay property tax when I sell and buy a home will I be reimbursed that taxes paid from both transaction

I’m a 100% disabled veteran in Maryland and currently exempt from paying property taxes. I’m selling my current home and buying another and wanted to know if I will be reimbursed from the county (Prince George) the transfer, recapture and recordation taxes.

Mark Oakley
Mark Oakley
answered on Oct 20, 2023

Transfer and recordation taxes are not “property taxes” and are not encompassed within the property tax exemption for disabled veterans. Contact the Maryland Department of Veterans Affairs at 410-260-3838 to inquire about what exemptions are available.

1 Answer | Asked in Bankruptcy and Tax Law for Maryland on
Q: Should you file jointly or separately for taxes when one of the spouses has Chapter 13 bankruptcy?

I have done my taxes both jointly and separately-

Jointly the total refund = $3063, Separately: Spouse #1: $1100 refund and Spouse #2/Debtor: $950 refund

I see in the Chapter 13 Plan- that if I "file jointly Debtor may retain $1500"- is that of the total $3063 or do... View More

Timothy Denison
Timothy Denison
answered on Apr 9, 2023

File separately.

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