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Maryland PTA bylaws requires all local PTA units
- to have insurance coverage of
liability, bonding, and directors and officers insurance
through the MD PTA negotiated insurance policy for all PTAs in
MD
- and to be in Good Standing for their
Incorporation
Bonding insurance also known as Commercial Crime
Insurance, protects the PTA in the event an officer or
members' dishonesty results in the loss of funds.
General Liabilities Plus Insurance protects the
PTA sponsored event except those events and coverage's specifically
excluded.
Directors & Officers Liability is sometimes referred to as D & O. D&O picks up where
Commercial General Liability leaves off and protects your officers,
volunteers, and employees.
INCORPORATION
All PTAs must be incorporated per Maryland PTA Bylaws. To
check on the incorporation status of your PTA, go to: http://sdatcert3.resiusa.org/ucc-charter/CharterSearch_f.asp
Personal Property Return IS DUE APRIL 15
OF EACH YEAR.
Even though the PTA owns no property, corporate status requires that a Personal Property Tax Return is completed every year by April 15 but no fees are due. There are late filing penalties from $30-$500 plus interest. If you did not receive a Personal Property Return, it can be downloaded from:http://www.dat.state.md.us/sdatweb/personal.html#forms
To help in completing the form:
- PTAs are a Domestic Non-Stock Corporation, the ID# Prefix will be D.
- The Federal Principal Business Code is 81300.
- If the answer to question C. of Section I is no, complete questions D.
- In Section I and then skip Section II.
- Section III on page 3 must be completed.
- Sign and date the return, make a copy for your files, and mail the document
to the State of Maryland, Dept. of Assessments and Taxation, Personal
Property Division in the envelope provided with the return forms.
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