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Form W-9 2023 for Maryland: What You Should Know

Backup withholding is imposed by law on an income tax return. If the Maryland returns filed and required to be filed as a result of a payment to a Maryland resident, and are not filed prior to the date of collection of backup withholding, the return is taxed as if the state had not imposed backup withholding on the payment. Maryland does not impose backup withholding taxes in situations where: (1) Maryland is a state of the United States, or (2) Maryland is not the United States. Backup withholding occurs on all income from Maryland source income, including: income from rents, rents and royalties, rents from real property, incomes from securities and interest (including dividends received), income from foreign accounts and withholding income of foreign persons taxed in that state. Backup withholding is imposed by Maryland income tax law. It is not a credit for Maryland tax purposes. A Maryland resident who has a backup withholding liability on a Maryland income tax return for the tax year is required to remit to Maryland at least the amount of backup withholding required to be paid as a result of Maryland taxes due. Backup withholding will be calculated in a manner consistent with Maryland's income tax withholding rules provided in Income Tax Regulations (IRC). A Maryland resident is required to remit the backup withholding equal to the backup withholding claimed by the resident. Any balance not remitted to Maryland within 30 days after a return is filed showing backup withholding will result in a credit against the resident's Maryland tax liability. Backup withholding is an additional amount imposed on Maryland residents by a state of the United States. Backup withholding means that Maryland tax law requires Maryland taxpayers to withhold federal income tax from payments of Maryland tax to the Maryland resident on account of backup withholding. Backup withholding may apply to the tax period in which the tax was paid or the period in which the payment is expected to be made, if the payment is made to a Maryland resident. Back Up Withholding by the State of Maryland ● In Maryland, backup withholding applies to any amount paid or expected to be paid by a resident of Maryland for which a Maryland resident is required to withhold federal tax as a result of state tax laws.

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