Sales and Use Tax - Nonprofit Organizations Maintaining Memorials - Exemption
Maddy summaryThis bill creates a sales and use tax exemption for nonprofit organizations that maintain memorials on property owned by the State of Maryland. To qualify for this exemption, the organization must be exempt from federal taxation under Internal Revenue Code section 501(c)(3), and any money raised from the sale of items must be used specifically to maintain the memorial on state-owned land. The law takes effect on July 1, 2024, allowing these organizations to sell goods without paying sales tax as long as the proceeds support the upkeep of the memorial.
Signed into law May 16, 2024
0 co-sponsors