Are fiduciaries subject to the estimated tax?
Yes. Maryland conforms to federal rules for filing and paying estimated taxes. Personal representatives are exempt from paying estimated taxes during the first two taxable years of the estate. If I open and close the estate in the same year, am I required to file a Maryland fiduciary return? If the estate is opened and closed in the same year, you are only required to file a Maryland return if you filed a federal fiduciary return and have Maryland taxable income. Generally, there is no Maryland taxable income if all the income is distributed during the estate closure. What Maryland forms are needed to meet these filing requirements? Personal representatives and trustees must file Maryland Form 504 to pay Maryland fiduciary income tax (and nonresidents must also file Form 504NR.) Fiduciaries paying estimated taxes for the first time must file Maryland Form 504D. Subsequent payments must be filed with pre-printed vouchers (Form 504DEP) provided by the Maryland Revenue Administration Divi
