Stay Ahead of the Game: Maryland Tax Deadlines and Extensions for 2023
Are you a Maryland resident or heavily involved in business operations within the state? If so, navigating Maryland State Taxes is essential. To ensure you’re on top of your game, let’s dive into the most crucial tax deadlines and extensions for Maryland in 2023.
Maryland Business Tax Deadlines
C Corporation
Tax Deadline: April 16, 2024 Applicable Form: Form 500 – Corporation Income Tax Return
Extension Deadline: November 15, 2024 To file for an extension, submit Form 500E – Maryland Application for Extension to File Corporation Income Tax Return. Remember, this extension applies to filing, not payment, which is still due by April 16, 2024.
Pass-Throughs (S Corporation & Partnership)
Tax Deadline: April 16, 2024 Applicable Form: Form 510 – Pass-Through Entity Income Tax Return
Extension Deadline: November 15, 2024 To extend your filing deadline, submit Form 510E – Maryland Application for Extension to File Pass-Through Entity Income Tax Return. Again, this extension is for filing purposes only, with payment still due by April 16, 2024.
Maryland Individual Tax Deadlines
Estimated Tax Deadline
- April 18, 2023
- June 15, 2023
- September 15, 2023
- January 15, 2024 Refer to PV for payment amounts with each voucher.
Individual Tax Deadline
Tax Deadline: April 16, 2024 Applicable Forms:
Extension Deadline: October 15, 2024 If you’re seeking an extension, Maryland automatically grants a 6-month extension if a federal extension is filed and there’s no tax due. However, if you file a federal extension and have no tax due in Maryland, there’s no need to file for a Maryland extension. Attach the federal extension to the state return. If you don’t file a federal extension or have tax due, submit Form PV. Remember, this extension applies to filing, not payment, which is still due by April 16, 2024.
Other Important Deadlines
- Estates Tax Deadline: Pay the Estate Tax within 9 months after the date of death.
- Farmer and Fisherman Taxes: If at least 2/3 of your gross income for the taxable year is derived from farming, you may pay estimated tax anytime on or before January 15, 2024. If farmers file their tax return on or before March 1, 2024, and pay the total tax at that time, they need not file estimated tax.
Stay ahead of the game by marking these crucial deadlines in your calendar and ensuring compliance with Maryland tax regulations. If you need assistance or have questions about your tax obligations, don’t hesitate to reach out to Cardinal Tax at the number below. Let us help you navigate Maryland’s tax landscape with confidence!