Maryland Headlines
SDAT Implements Controlling Interest Tax
The State Department of Assessments and Taxation (SDAT) is implementing procedures to enforce the new transfer and recordation tax on transfers of controlling interests in entities that own real property in Maryland. AOBA submitted written comments and met with Department officials to voice concerns that the Department’s proposed regulation exceeded the statute’s intent and gave the Department wide latitude in the interpretation of the intent, clouding the safe harbors established by the statute.
