The law specifies that all taxable personal property must be assessed as of a specific point in time, and that point is precisely at 12:01 a.m. January 1 (regardless of what transpires after that date). Even if closed shortly after the lien date, a business must still file a Business Property Statement and pay taxes for the coming fiscal year on any taxable property they owned on the lien date.
Maryland For Corporations: "Company", if it is not preceded by the word "and" or a symbol for the word "and"; "Corporation", "Incorporated" or "Limited" or abbreviations; for Limited liability companies: "limited liability company", "L.L.C.", "LLC", "L.C.", or "LC"; for Limited liability partnerships: "limited liability partnership", "L.L.P." or "LLP"; for Limited partnerships: "limited partnership", "L.P.", or "LP"; for Limited liability limited partnerships: "limited liability limited partnership", "L.L.L.P.", or "LLLP"; for Professional corporations: "chartered", "chtd.", "professional association", "P.A.", "professional corporation", or "P.C." Maryland Code – Corporations and Associations § 1-502
An LLC that does not want to accept its default federal tax classification, or that wishes to change its classification, uses Form 8832, Entity Classification Election (PDF), to elect how it will be classified for federal tax purposes. Generally, an election specifying an LLC’s classification cannot take effect more than 75 days prior to the date the election is filed, nor can it take effect later than 12 months after the date the election is filed. An LLC may be eligible for late election relief in certain circumstances. See About Form 8832, Entity Classification Election for more information.
Agent Name- The name of the current primary contact for this business. It is the 'statutory agent name' for Corporations, Limited Partnerships, Limited Liability Companies, Business Trusts, Real Estate Trusts and Limited Liability Partnerships. It is the 'registrant name' for Trade Names, Trade Marks, Service Marks, Fictitious Names and Marks of Ownership.
On the other hand, if you are not responsible for its tax, then you should declare the equipment in Part III of the Business Property Statement (Equipment belonging to others). Where equipment is declared in Part III of the Business Property Statement, the Assessor will also send a Notice to File to the person reported as the equipment's actual owner.