Maryland – Bill Exempts Recordation and Transfer Taxes for Certain LLC’s

Maryland – Bill Exempts Recordation and Transfer Taxes for Certain LLC’s

June 20, 2017

House Bill 363 (Chapter 64) signed by the governor April 11 and effective July 1 exempts from recordation and transfer taxes the transfer of real property from a sole proprietorship to a limited liability company if the LLC’s sole member is identical to the converting sole proprietor.