Save $300 on your 2026 SDAT Maryland Annual Report/Personal Property Tax Return

To All Maryland Business Owners:

As 2025 comes to a close, KMAF would like to inform you about a $300 savings opportunity and a state requirement for some small businesses.  Maryland Saves, a state-sponsored program, allows businesses to offer their employees a voluntary, automatic, low-cost, portable retirement and emergency savings plan. It provides access to retirement savings through automatic contributions to Roth IRAs for eligible employees of specific private-sector small businesses.

Under Maryland law, established businesses that use an automated payroll system (e.g., QuickBooks Online, ADP, Paychecks, and similar) are required to either offer a retirement plan or sign their employees up for the MarylandSaves program. Businesses that do so will receive $300 per year via a waiver of the Maryland business annual filing fee. There are no employer financial contributions or MarylandSaves fees to employers. All administrative fees are paid from employee accounts.  

For more information, please go to:  https://www.marylandsaves.org/marylandsaves-and-the-law/

The State of Maryland is offering a $300 annual filing fee waiver for any business that qualifies based on one of the following two statements:

• If you are a Maryland employer who has been in business for at least two calendar years, employs at least one W-2 employee, and offers an employer-sponsored, automated payroll-deducted retirement savings program (i.e., 401(k) plan, 403(b) plan, Sep Plan, Simple Plan).

• If your company is already enrolled in the Maryland Saves program, it will AUTOMATICALLY notify SDAT that you qualify for the $300 Annual Report Filing Fee waiver.  You do not need to do anything else.

To receive the 2026 SDAT Annual Report Fee waiver, complete the form link below by December 31, 2025. Completed forms received after December 31, 2025, will qualify for the 2026 SDAT Annual Report Filing Fee waiver.  

https://www.marylandsaves.org/claim-fee-waiver/ 

Once you apply for this exemption, please forward us a copy of the waiver to taxdept@kmaf.cpa so that we know you are exempt from the filing fee when we prepare your 2026 Annual Report and Personal Property Tax Return. In that email, please let us know the name of the business.

If you have any questions, please reach out.

Christopher Williams, CPA/PFS, CFP®, MST, chrisw@kmaf.cpa

Gregory Litvinuck, CPA, gregl@kmaf.cpa

Art Svrjcek, CPA, arts@kmaf.cpa

Office Phone 410-643-4477