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bFile System Ready for RELIEF Act Sales & Use Tax Credit

bFile System Ready for RELIEF Act Sales & Use Tax Credit | CPA in Harford County | Weyrich, Cronin & Sorra

Maryland Comptroller Peter Franchot announced on Tuesday, May 18th that the State’s bFile system is now available for qualified business owners to claim a Sales and Use Tax Credit under the Relief Act of 2021.

If vendors report $6,000 or less in gross collected sales tax in that period, $3,000 will be the tax credit. If less than $3,000 of sales tax was collected, the credit will be the amount of sales tax collected, bringing the balance owed for that period to zero.

To be eligible for the credit, business owners must file timely returns and sales collections for March, April and May cannot exceed $6,000. The returns are typically filed in April, May, and June. However, the filing deadline for those months have been extended to July 15, 2021.

Read More Here.

 

As always, please do not hesitate to call our offices for additional information and to speak to your representative about how this could affect your situation.

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