Washington State Form 17 Withholding In Maryland

State:
Multi-State
Control #:
US-00056DR
Format:
Word; 
Rich Text
Instant download

Description

The Washington state form 17 withholding in Maryland is a critical legal instrument designed to facilitate the appropriate withholding of taxes during real estate transactions. This form serves to clarify the responsibilities of the seller and the agent regarding tax compliance related to the sale of property. Key features include the acknowledgment of the agent's professional fee, which may be a fixed amount or a percentage of the sales price, ensuring transparency in the financial obligations. Filling instructions require clear identification of the property being sold, as well as the parties involved, for accurate record-keeping. It is advisable for users to seek legal advice if any part of the contract is unclear to ensure all parties fully understand their obligations. Attorneys, partners, owners, associates, paralegals, and legal assistants benefit from using this form as it streamlines the transaction process and helps maintain legal compliance with state regulations. Specific use cases for this form include residential and commercial property sales where tax withholding must be correctly handled. Overall, this form plays a vital role in safeguarding the interests of all parties in a real estate transaction.

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FAQ

You must file the state form DE 4 to determine the appropriate California PIT withholding. If you do not provide your employer a completed DE 4, your employer must use Single with Zero withholding allowance.

Maryland has reciprocal agreements with Pennsylvania, Virginia, West Virginia and the District of Columbia. If your employer withheld tax for one of the reciprocal states, you can claim a refund from the reciprocal state.

U.S. States that Require State Tax Withholding Forms Alabama. Arizona. Arkansas. California. Connecticut. District of Columbia. Georgia. Hawaii.

Maryland Form MW 507, Employee's Maryland Withholding Exemption Certificate.

If you are a Maryland resident, you are required to file a Maryland income tax return if you are required to file a federal income tax return, and your gross income equals or exceeds the level for your filing status in Filing Requirements see above and in Instruction 1 of the Maryland resident tax booklet.

If wages were reported in Box 16, then Box 17 will show the amount of state taxes withheld from your income.

Box 17: State income tax withheld. Box 17 reports the total amount of state income taxes withheld from your paychecks for the wages reported in Box 16. Box 18: Local wages. Box 18 reports the total amount of wages subject to local income taxes.

In general, you must file this return if: You are a nonresident of Maryland, • AND, you are required to file a federal return based upon the income levels in Table 1 or 2, • AND, you received income from sources within Maryland.

If you are a nonresident, file Form 505 and Form 505NR. If you are a nonresident and need to amend your return, file Form 505X.

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Washington State Form 17 Withholding In Maryland