Maryland Maryland Income Tax Withholding for Annuity, Sick Pay and Retirement Distributions

Maryland Income Tax Withholding for Annuity, Sick Pay and Retirement Distributions	
MW507P 2023_49 011123 A
MARYLAND
FORM

MW507P

Maryland Income Tax Withholding
for Annuity, Sick Pay and
Retirement Distributions

Print full name	

Social Security Number

Home address (number & street)

City	

State	

ZIP Code	

-

+4

A.	 Contract claim or identification number. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
B.	Enter the amount withheld from each annuity, sick pay or retirement
distribution payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 $

.

I request voluntary income tax withholding from any annuity, sick pay or retirement distribution payments as authorized
by Section 10-907(b) of the Tax-General Article of the Annotated Code of Maryland.

		
	

Signature	

COM/RAD 044

Date

05/22

Instructions
Who may file – Any recipient of an annuity, sick pay or
retirement distribution payment may file this form to have
Maryland income tax withheld from each payment. However,
the annuity must be payable over a period longer than one year.
Sick pay – The term “sick pay” means any amount which is
paid to an employee pursuant to a plan to which the employer
is a party and constitutes remuneration or a payment in lieu
of remuneration for any period during which the employee
is temporarily absent from work on account of sickness or
personal injuries.
Where and how to file – File this form with the payer of your
annuity, sick payment or retirement distribution. Enter in item B
of page 1, the whole dollar amount that you wish withheld from
each annuity or sick pay payment. The amount must not be
less than $5 a month for annuities and retirement distributions
and at least $2 per daily payment in the case of sick pay. You
may find it convenient to request an amount to be withheld
which will reduce your year-end tax balance on your individual

Maryland tax return to an amount of $500 or less and thus
avoid having to file an individual Personal Tax Payment Voucher
for 502/505, Estimated Tax and Extensions (Form PV).
You may use the worksheet provided with the Payment Voucher
Worksheet (PVW) as a guide in estimating your income tax
liability.
Duration of withholding request - Your request for
voluntary withholding will remain in effect until you
terminate it.
How to terminate a withholding request - You may
terminate at any time your request for voluntary withholding by
giving your payers a written termination notice.
Statement of income tax withheld - At the close of the
year, your payer will furnish you with a Form 1099 or other
appropriate form showing the gross amount of annuity or sick
pay payments and the total amount deducted and withheld as
tax during the calendar year.

File this form with the payer of your annuity, sick payment or retirement distribution.

Do not mail this form to the Maryland Revenue Administration Division.