Maryland Carry Permit as a Landlord

The #1 community for Gun Owners of the Northeast

Member Benefits:

  • No ad networks!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • ucmewin

    Member
    Oct 13, 2020
    3
    Anne Arundel County
    I have recently starting renting out my first house and bought a 2nd house that I Live in( both houses in MD). Looking to get a MD Carry permit, but we all know how tight MD is with those. Is there anyone out there in the same situation that has been approved for MD Carry being a landlord. I do not have it setup as a Business. Looking for tips on what I need to have to get approved. Will MDSP issue one with this being the "Good and substantial reason" All advise excepted.
     

    ucmewin

    Member
    Oct 13, 2020
    3
    Anne Arundel County
    I am trying to work out the whole tax's with this , I was trying to avoid having to create a "business" at the moment. Are you saying that they would not approve with out it being named a "business" because technically it may already be considered a business under my name from what I'm reading with tax's.

    Anyone with personal experience on this subject appreciated.
     

    Fredcohunter

    Active Member
    Nov 30, 2008
    431
    A little west of Frederick
    I am trying to work out the whole tax's with this , I was trying to avoid having to create a "business" at the moment. Are you saying that they would not approve with out it being named a "business" because technically it may already be considered a business under my name from what I'm reading with tax's.

    Anyone with personal experience on this subject appreciated.

    Create a single member LLC. a single member LLC is a disregarded tax entity and does not require a separate federal tax return. To maintain the LLC you will need to file a MD personal property return annually. I am not an attorney so I can not speak to the legal issues of why you should have a rental property in an LLC.
     

    welder516

    Deplorable Welder
    MDS Supporter
    Jun 8, 2013
    27,307
    Underground Bunker
    Lots of landlords i have met with permits , set up a real business and then apply . LLC is great , go simple if you have one or two properties .
     

    goose4

    Member
    Jan 6, 2013
    31
    First let me say that a CPA should not be preparing. It should be an attorney. Also be aware that it costs $300.00 per year to maintain the LLC. I do know of someone that obtained a carry permit, but I also know they were collecting cash in bad neighborhoods. I would contact the state and ask if the rental property would pass muster as a business before going through the extra trouble.
     

    dblas

    Past President, MSI
    MDS Supporter
    Apr 6, 2011
    13,087
    Doesn't need to be an LLC, it can be a sole proprietor.
     

    Biggfoot44

    Ultimate Member
    Aug 2, 2009
    32,881
    Indeed , sole proprietor can be a legitimate business . But you can't just run it casually out of your back pocket .

    Separate Business bank account(s) , keep records of everything , income , expendatures , all relevant licensing and regulatory , tax records related to business activities , etc .
     

    miles71

    Ultimate Member
    Industry Partner
    Jul 19, 2009
    2,522
    Belcamp, Md.
    Don't make it complicated. Sole proprietor, do a schedule c on taxes to show business entity, send financial records to show you do business in Maryland, letter explaining business.


    You just gotta prove you business and are a business enitity in Maryland. That being said, things change constantly. Good luck.

    TD
     
    You would probably have to be collecting rent in cash in order to get a permit unless you go the business route. Used to be similar restrictions for business owners, had to be carrying cash or valuables but I believe simply being a business owner qualifies now.

    Sent from my SM-N975U using Tapatalk
     

    Users who are viewing this thread

    Latest posts

    Forum statistics

    Threads
    274,925
    Messages
    7,259,285
    Members
    33,349
    Latest member
    christian04

    Latest threads

    Top Bottom