This week, LMCHS&P partner Scott Schwartzberg gave a presentation to the American Advertising Federation (AAF) of Baltimore regarding the State of Maryland’s new law subjecting the sale of digital products and codes to the State’s 6% Sales and Use Tax. Many digital products that were not formerly subject to tax are as of March 2021. There is a limited tax credit available to businesses to offset the impact of the tax. Businesses should immediately consult with their tax advisors to determine the impact of the newly expanded tax on their business and to plan accordingly to comply with any obligation to collect and/or pay the tax. Failure to properly collect and/or pay can result in personal liability for owners and/or managers of the business.
Call our tax attorneys today at (410) 998-2000.
Scott Schwartzberg can be reached directly at (410) 998-2006.