Form MW507P "Maryland Income Tax Withholding for Annuity, Sick Pay and Retirement Distributions" - Maryland

What Is Form MW507P?

This is a legal form that was released by the Comptroller of Maryland - a government authority operating within Maryland. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • The latest edition provided by the Comptroller of Maryland;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a fillable version of Form MW507P by clicking the link below or browse more documents and templates provided by the Comptroller of Maryland.

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Download Form MW507P "Maryland Income Tax Withholding for Annuity, Sick Pay and Retirement Distributions" - Maryland

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MARYLAND
Maryland Income Tax Withholding
FORM
for Annuity, Sick Pay and
MW507P
Retirement Distributions
Print full name
Social Security Number
Home address (number & street)
-
City
State
ZIP Code
+4
A.
Contract claim or identification number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
B.
Enter the amount withheld from each annuity, sick pay or retirement
distribution payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
.
I request voluntary income tax withholding from any annuity, sick pay or retirement distribution payments as authorized
by Section 10-907(b) of the Tax-General Article of the Annotated Code of Maryland.
Signature
Date
COM/RAD 044 18-49
Instructions
Who may file – Any recipient of an annuity, sick pay or
Maryland tax return to an amount of $500 or less and thus
retirement distribution payment may file this form to have
avoid having to file an individual Declaration of Estimated Tax
Maryland income tax withheld from each payment. However,
(Form 502D).
the annuity must be payable over a period longer than one year.
You may use the worksheet provided with the declaration as a
Sick pay – The term “sick pay” means any amount which is
guide in estimating your income tax liability.
paid to an employee pursuant to a plan to which the employer
Duration of withholding request - Your request for
is a party and constitutes remuneration or a payment in lieu
voluntary
withholding
will
remain
in
effect
until
you
of remuneration for any period during which the employee
terminate it.
is temporarily absent from work on account of sickness or
How to terminate a withholding request - You may
personal injuries.
terminate at any time your request for voluntary withholding by
Where and how to file – File this form with the payer of your
giving your payers a written termination notice.
annuity, sick payment or retirement distribution. Enter in item B
Statement of income tax withheld - At the close of the
of page 1, the whole dollar amount that you wish withheld from
year, your payer will furnish you with a Form 1099 or other
each annuity or sick pay payment. The amount must not be
appropriate form showing the gross amount of annuity or sick
less than $5 a month for annuities and retirement distributions
pay payments and the total amount deducted and withheld as
and at least $2 per daily payment in the case of sick pay. You
tax during the calendar year.
may find it convenient to request an amount to be withheld
which will reduce your year-end tax balance on your individual
File this form with the payer of your annuity, sick payment or retirement distribution.
Do not mail this form to the Maryland Revenue Administration Division.
MARYLAND
Maryland Income Tax Withholding
FORM
for Annuity, Sick Pay and
MW507P
Retirement Distributions
Print full name
Social Security Number
Home address (number & street)
-
City
State
ZIP Code
+4
A.
Contract claim or identification number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
B.
Enter the amount withheld from each annuity, sick pay or retirement
distribution payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
.
I request voluntary income tax withholding from any annuity, sick pay or retirement distribution payments as authorized
by Section 10-907(b) of the Tax-General Article of the Annotated Code of Maryland.
Signature
Date
COM/RAD 044 18-49
Instructions
Who may file – Any recipient of an annuity, sick pay or
Maryland tax return to an amount of $500 or less and thus
retirement distribution payment may file this form to have
avoid having to file an individual Declaration of Estimated Tax
Maryland income tax withheld from each payment. However,
(Form 502D).
the annuity must be payable over a period longer than one year.
You may use the worksheet provided with the declaration as a
Sick pay – The term “sick pay” means any amount which is
guide in estimating your income tax liability.
paid to an employee pursuant to a plan to which the employer
Duration of withholding request - Your request for
is a party and constitutes remuneration or a payment in lieu
voluntary
withholding
will
remain
in
effect
until
you
of remuneration for any period during which the employee
terminate it.
is temporarily absent from work on account of sickness or
How to terminate a withholding request - You may
personal injuries.
terminate at any time your request for voluntary withholding by
Where and how to file – File this form with the payer of your
giving your payers a written termination notice.
annuity, sick payment or retirement distribution. Enter in item B
Statement of income tax withheld - At the close of the
of page 1, the whole dollar amount that you wish withheld from
year, your payer will furnish you with a Form 1099 or other
each annuity or sick pay payment. The amount must not be
appropriate form showing the gross amount of annuity or sick
less than $5 a month for annuities and retirement distributions
pay payments and the total amount deducted and withheld as
and at least $2 per daily payment in the case of sick pay. You
tax during the calendar year.
may find it convenient to request an amount to be withheld
which will reduce your year-end tax balance on your individual
File this form with the payer of your annuity, sick payment or retirement distribution.
Do not mail this form to the Maryland Revenue Administration Division.