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Our business purchases used equipment for our manufacturing facility here in Maryland. We often purchase from a company located in another state. How exactly do we pay a use tax on the used equipment?
ANSWER
The BIDaWIZ Team's Answer:
Businesses that make out of state purchases still must pay a use tax. Having said that, those businesses may claim a 10% depreciation allowance for each full year the property was used before it is used in Maryland. This means that only the depreciated value is subject to tax.
References: Maryland Comptroller 03.06.01.33
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