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

Authorizing, for purposes of determining the Maryland estate tax, a qualified recipient to transfer ownership of qualified agricultural property to a limited liability company; providing that qualified agricultural property transferred in accordance with the Act is not subject to estate tax recapture if the ownership of the company consists only of qualified recipients and the property is used for farming purposes for at least 10 years after the decedent's death; etc.