EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*sb0403*
SENATE BILL 403
C1 2lr0127
CF HB 409
By: The President (By Request – Administration) and Senators Bailey, Carozza,
Cassilly, Corderman, Eckardt, Edwards, Elfreth, Gallion, Hershey, Hester,
Jennings, Ready, Salling, Simonaire, and West
Introduced and read first time: January 24, 2022
Assigned to: Budget and Taxation
A BILL ENTITLED
AN ACT concerning 1
Corporations and Associations – Annual Reports – Fees for Electronic Filings 2
FOR the purpose of eliminating filing fees paid by corporations and other business entities 3
to the State Department of Assessments and Taxation for certain annual reports 4
filed electronically; and generally relating to business entity filing fees. 5
BY repealing and reenacting, with amendments, 6
Article – Corporations and Associations 7
Section 1–201(c) and 1–203(b)(3)(ii) 8
Annotated Code of Maryland 9
(2014 Replacement Volume and 2021 Supplement) 10
BY adding to 11
Article – Corporations and Associations 12
Section 1–203(b)(3)(iii) 13
Annotated Code of Maryland 14
(2014 Replacement Volume and 2021 Supplement) 15
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 16
That the Laws of Maryland read as follows: 17
Article – Corporations and Associations 18
1–201. 19
(c) (1) The Department may accept documents that are filed for record by 20
electronic transmission. 21
2 SENATE BILL 403
(2) [Documents] EXCEPT AS OTHERWISE PROVIDED IN THIS SUB TITLE, 1
DOCUMENTS filed for record by electronic transmission are subject to the regular filing 2
fees and expedited processing fees provided in § 1–203 of this subtitle. 3
1–203. 4
(b) (3) (ii) Except as provided in SUBPARAGRAPH (III) OF THIS 5
PARAGRAPH AND paragraph (13) of this subsection, for each of the following documents 6
which are filed but not recorded, the filing fee is as indicated: 7
Annual report of a Maryland corporation, except a charitable or benevolent 8
institution, nonstock corporation, savings and loan corporation, credit union, family farm, 9
and banking institution……………………………………………… …………….. ……………$300 10
Annual report of a foreign corporation subject to the jurisdiction of this State, except 11
a national banking association, savings and loan association, credit union, nonstock 12
corporation, and charitable and benevolent institution………………………… …………..$300 13
Annual report of a Maryland savings and loan association, banking institution, or 14
credit union or of a foreign savings and loan association, national banking association, or 15
credit union that is subject to the jurisdiction of this 16
State…………………………….……………………………………………………… ……..……$300 17
Annual report of a Maryland limited liability company, limited liability partnership, 18
limited partnership, or of a foreign limited liability company, foreign limited liability 19
partnership, or foreign limited partnership, except a family 20
farm……………………………………………………………………………………....… ……....$300 21
Annual report of a business trust……………………………………… ……...….…….$300 22
Annual report of a real estate investment trust or foreign statutory trust doing 23
business in this State…………………………………………………………………… ……..…$300 24
Annual report of a family farm…………………………………… …….………...……$100 25
(III) FOR AN ANNUAL REPORT DUE ON OR AFTER APRIL 15, 2023, 26
THERE IS NO FILING F EE FOR A BUSINESS EN TITY DESCRIBED UNDER 27
SUBPARAGRAPH (II) OF THIS PARAGRAPH THAT FILES AN ANNUAL REPORT 28
ELECTRONICALLY IN AC CORDANCE WITH PROCED URES ESTABLISHED BY THE 29
DEPARTMENT . 30
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 31
1, 2022. 32