Maryland Estate Tax – Qualified Agricultural Property – Transfer to Limited Liability Company

Summary

The bill lets a qualified recipient of qualified agricultural property transfer that property to a limited liability company. The transfer is exempt from estate‑tax recapture as long as the LLC is owned only by qualified recipients and the land continues to be used for farming for at least ten years after the owner's death. This preserves the estate‑tax exclusion for family farms.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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