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Dos and Don'ts
When filling out the Maryland Sales Use Tax 202 form, it’s important to follow certain guidelines to ensure accuracy and compliance. Here are ten things you should and shouldn’t do:
- Do include your Federal Employer Identification Number.
- Do provide your Maryland Central Registration Number.
- Do clearly state the date your business was permanently discontinued.
- Do fill in your name and complete address accurately.
- Do include the purchaser’s name and address if the business was sold.
- Do ensure the date of sale is filled out correctly.
- Do provide your contact information, including telephone number and email address.
- Do sign the form as the responsible official.
- Don't forget to keep a copy of the form for your records.
- Don't leave any required fields blank; this could delay processing.
Following these guidelines will help you complete the form correctly and minimize any potential issues. Always double-check your entries before submission to ensure everything is accurate.
Misconceptions
Understanding the Maryland Sales and Use Tax Form 202 can be tricky. Here are ten common misconceptions about this form, along with clarifications to help you navigate the process.
- Only businesses need to file this form. Individuals who have discontinued a business or sold it must also file Form 202.
- This form is only for those who file paper returns. Even if you file electronically, you still need to submit this form separately.
- You can skip the form if you have no sales tax to report. Filing the form is necessary regardless of whether you collected any sales tax.
- It’s optional to include your Federal Employer Identification Number. This number is required for proper processing of your return.
- You don’t need to keep a copy of the form. It’s important to retain a copy for your records in case of future inquiries.
- The form can be submitted at any time. It must be submitted promptly after discontinuing or selling your business.
- Only the owner can complete the form. Anyone responsible for the business can fill it out, but they must sign it.
- Filing the form means you are done with taxes. You may still have other tax obligations even after filing Form 202.
- There’s no need to provide contact information. Your telephone number and email address are essential for communication regarding your submission.
- Mailing the form is the only option. While mailing is common, you can also submit it electronically if that’s your preference.
Being aware of these misconceptions can help ensure that you complete the Maryland Sales and Use Tax Form 202 accurately and on time.
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Key takeaways
When filling out the Maryland Sales and Use Tax Form 202, keep these key points in mind:
- Final Return Requirement: Submit this form with your final sales and use tax return if you have discontinued or sold your business.
- Separate Filing: If you file electronically, mail this form separately.
- Essential Information: Include your Federal Employer Identification Number, Central Registration Number, and telephone number on all documents to ensure proper processing.
- Record Keeping: Always keep a copy of the completed form for your records.
- Mailing Address: Send the form to the Comptroller of Maryland, Revenue Administration Division, at 110 Carroll Street, Annapolis, MD 21411-0001.
- Signature Requirement: Ensure that the form is signed by a responsible official to validate the submission.
- Contact Information: Provide your email address and telephone number for any follow-up communications.
Guidelines on Utilizing Maryland Sales Use Tax 202
Completing the Maryland Sales Use Tax 202 form is essential for those who have discontinued or sold their business. Follow these steps carefully to ensure accurate submission.
- Gather necessary information: You will need your Federal Employer Identification Number and Central Registration Number.
- Fill in the date your business was permanently discontinued.
- Enter your name and your business's street address, including city, state, and zip code.
- If applicable, provide the purchaser’s name and address.
- Record the date the business was sold.
- Indicate who is completing the form by entering their name.
- Provide a telephone number and an email address for contact purposes.
- Ensure the signature of the responsible official is included at the bottom of the form.
Once completed, send this form along with your final sales and use tax return if you have discontinued or sold your business. If you file electronically, mail it separately. Retain a copy for your records to ensure you have documentation of your submission.
Mail the completed form to: Comptroller of Maryland, Revenue Administration Division, 110 Carroll Street, Annapolis, MD 21411-0001.
Form Preview Example
MARYLAND |
Sales and Use Tax |
FORM |
FINAL RETURN FORM |
202FR |
|
IMPORTANT NOTE: Send this form accompanied with the final sales and use tax return if you have discontinued or sold your business or mail separately if you file electronically.
1.Federal Employer Identification Number:
2.Central Registration Number:
3.Date if Permanently Discontinued:
4.Name:
5.Street Address
City
6.Purchaser’s Name and Address if Sold:
7.Date Sold:
8.Person Completing this Form:
9.Telephone Number:
10.Email Address:
11 Signature of Responsible Official:
INSTRUCTIONS FOR FILING
State
Zip code + 4
Send this form accompanied with the final sales and use tax return if you have discontinued or sold your business or mail separately if you file electronically. Keep a copy for your records. Your name, Federal Employer Identification Number, Maryland central registration number and telephone number must be on all documents to assure proper processing and prevent posting errors. Mail to: Comptroller of Maryland, Revenue Administration Division, 110 Carroll Street, Annapolis, MD
COM/RAD 102 06/21
Common mistakes
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Omitting Key Identification Numbers: One common mistake is failing to include the Federal Employer Identification Number and the Central Registration Number. These numbers are crucial for identifying your business and ensuring that your return is processed correctly.
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Incorrect Mailing Procedures: Many individuals do not follow the specific mailing instructions. It's important to send the form along with the final sales and use tax return if you have discontinued or sold your business. If filing electronically, you must mail it separately.
-
Neglecting to Keep a Copy: Some people forget to keep a copy of the completed form for their records. Retaining a copy is essential for future reference and can help resolve any potential issues that may arise.
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Missing Signature: A frequent oversight is not signing the form. The signature of a responsible official is required to validate the submission. Without it, the form may be considered incomplete.
Learn More on This Form
What is the Maryland Sales and Use Tax Form 202?
The Maryland Sales and Use Tax Form 202 is a final return form that businesses must file when they have discontinued operations or sold their business. This form serves to inform the state about the business's closure or transfer of ownership and ensures that any outstanding sales and use tax obligations are settled.
Who needs to file Form 202?
If you have permanently discontinued your business or sold it, you are required to file Form 202. This applies to all businesses registered in Maryland that have been collecting sales and use tax. Filing this form helps to formally close your account with the Maryland Comptroller’s office.
What information do I need to provide on Form 202?
When completing Form 202, you will need to provide several pieces of information. This includes your Federal Employer Identification Number, Central Registration Number, the date your business was permanently discontinued, your name and address, the purchaser’s name and address if applicable, the date of the sale, and your contact information. Additionally, the form must be signed by a responsible official.
How should I submit Form 202?
You should submit Form 202 along with your final sales and use tax return if you are discontinuing your business. If you file electronically, you can mail Form 202 separately. It is important to keep a copy for your records. Ensure that your name, Federal Employer Identification Number, Maryland Central Registration Number, and telephone number are included on all documents to avoid processing errors.
Where do I send Form 202?
Mail Form 202 to the Comptroller of Maryland, Revenue Administration Division, at 110 Carroll Street, Annapolis, MD 21411-0001. Make sure to send it to the correct address to ensure timely processing.
What happens if I do not file Form 202?
Failing to file Form 202 can lead to potential issues with the state, including the possibility of ongoing tax liabilities. Not filing may also complicate your ability to close your business officially, which could result in penalties or fees. It is best to complete this form to avoid any complications.
Can I file Form 202 electronically?
While you can file your final sales and use tax return electronically, Form 202 must be mailed separately if you choose that method. Ensure that you follow the instructions carefully to avoid any delays in processing.
Is there a deadline for filing Form 202?
There is no specific deadline mentioned for filing Form 202, but it is advisable to submit it as soon as you have discontinued your business or sold it. Timely filing can help prevent any complications with your tax obligations and ensure that your account is closed properly.
What should I do if I have questions about Form 202?
If you have questions regarding the completion or submission of Form 202, it is best to contact the Comptroller of Maryland’s office directly. They can provide you with the most accurate and detailed information to assist you with your specific situation.