Fractional CFO Services in Baltimore

Yes, when it buys a major part of the inventory of a business that sells from stock. Maryland still has bulk-transfer law, and that buyer must notify creditors, and mail the notice to the Comptroller, at least 10 days before taking possession or paying. A buyer that skips the notice, or doesn't withhold an amount the Comptroller claims, is personally liable for the seller's sales and use tax, interest and penalties. Retained employees also keep their accrued sick leave. More on how we work with newly acquired businesses.

Not for employees earning 150% of the state minimum wage or less, which is $22.50 an hour at $15.00. For licensed health care workers giving direct patient care, a non-compete is void at $350,000 or less in pay; above that, it may last one year and reach 10 miles. The threshold uses the state rate, not a county minimum wage, and covenants that protect client or patient lists are carved out.

Yes, until the program sunsets on June 30, 2027 unless it is extended. The credit is 10% of Maryland research spending above a base amount, capped at $250,000 per applicant and $12 million statewide, and it is refundable for small businesses with under $5 million in net book assets. Applications go to the Department of Commerce by November 15 of the year after the spending.

No. For tax years beginning in 2025, Maryland decoupled automatically from the federal expensing of domestic research costs, the EBITDA-based business interest limit and the §168(n) write-off. Research costs from 2025 and earlier stay on 60-month amortization through a Form 500DM addition, and Maryland won't accept amended prior-year returns that expense them.

When the contract sets payment dates, the owner pays undisputed amounts within 7 days after each one; when it doesn't, payment is due by the earlier of 30 days after the occupancy permit or 30 days after the owner takes possession. General contractors pay subs, and subs pay their own subs, within 7 days of being paid for the work. On contracts of $100,000 or more, retention is capped at 5% only when the contractor has posted 100% performance and payment security, and no tier may hold back a higher percentage than is held from it. More on fractional controllers for construction companies.

Maryland requires no preliminary notice at the start of a job. A subcontractor or supplier sends the owner a notice of intent to claim a lien within 120 days of doing the work or delivering materials, and every claimant must petition the circuit court within 180 days after the work is finished or the materials delivered. A Maryland lien is established by court order, not by recording a claim.

Anyone who does or sells home improvement work, including work on individual condo units, needs a Maryland Home Improvement Commission license, which requires at least $500,000 of general liability insurance. New-home construction, apartment buildings with four or more units and condo common areas fall outside it. Other construction businesses need the county construction license, $40 a year in Baltimore City or Baltimore County, and contractors pay the 6% sales tax on materials when they buy them.

After three years. Maryland presumes unclaimed wages and payroll checks abandoned after 3 years, the same period as most other business intangibles. The annual report covers July 1 to June 30 and is due by October 31.