Maryland Comptroller’s Registration and Filings Website Procedure
This procedure by necessity takes a minimalist approach to describing steps to take. Â The reason is that all these actions are defined by the Comptroller’s Business Express website functionality, organization, and potentially an evolving user experience. Â Therefore, we attempt to inform what preparations are necessary and guide toward getting started on the Business Express site.
NOTE: This option and business address appear to be combined into a single filing.
Corporate and Business Address – file a “resolution” document using the provided form to change the business’s principle office (not necessarily place of business).Â
Annual Report/Personal Property – An annual report is due each calendar year on or before April 15th listing property owned by the Guild as of January 1st of that year.
- Review the prior year’s report to familiarize yourself with what was reported at that time. Copies of the reports can be found on the Comptroller’s site and on the HCWG BoD Files in the Incorporation Files folder.
- Contact the Treasurer to obtain the total revenue collected by the Guild in the most recent prior fiscal year (7/1 – 6/30). This is from all sources, including membership dues, class registrations, etc. Even though the Property Report runs on a calendar year, for this question on the report the Comptroller’s office has confirmed that we should use our fiscal year total to match our tax filing.
- Obtain the latest report of workshop tools to ascertain if there are any non-fully depreciated assets to consider (available on the HCWG site). Contact the Shop Coordinator to verify the tools/equipment that has been purchased or sold in the prior calendar year.Â
- To assess whether we have recently purchased equipment which needs to be reported on the Annual Report
- Is the newly purchased equipment of significant value? (e.g. a $150 scroll saw would be considered an expense of the Guild and not necessarily an investment in property)
- Does the value of the newly purchased equipment bring the total initial purchase price of all combined equipment to greater than $20,000? The $20,000 threshold requires additional reporting from the Guild in this process.
- The Guild uses a 36-month depreciation framework to determine the current value of equipment if needed to report new equipment purchased (see (A) above).
- Log onto the Comptroller’s website and, using the previous year’s report and the answers to the above questions as a guide, complete the new year’s reporting.
- Once complete and filed, save the PDF of the completed report to the BoD Files in the Incorporation Files folder.
Good Standing – to maintain the proper Good Standing status, file the Annual Report on time.
Change Guild’s Comptroller Account Owner – whenever there is a guild personnel change affecting who is the primary comptroller website login profile, the new contact information must be updated.