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03.04.03.00.htm 03.04.03.00. Title 03 COMPTROLLER OF THE TREASURY Subtitle 04 INCOME TAX Chapter 03 Corporations Authority: Tax-General Article, §2-103 and 10-306.1(h) Annotated Code of Maryland
03.04.03.01.htm 03.04.03.01. 01 Scope.. A. This chapter provides specific guidance to all corporate entities subject to the Maryland income tax laws.B. COMAR 03.04.08 applies to banking and similar institutions as defined in that chapter. Corporations not coming within that definition, including subsidiaries or affiliates of banking and similar institutions, shall apportion their income between Maryland and other states as required by applicable regulations and administrative releases of the Comptroller.
03.04.03.02.htm 03.04.03.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Allocation" means the assignment of income to a particular state.. 2) "Apportionment" means the allocation of income between states by the use of a formula..
03.04.03.03.htm 03.04.03.03. 03 Corporations Required to File.. A. A corporation, not expressly exempt, having any income allocable to this State, shall file a Maryland corporation income tax return even though it has no Maryland taxable income.B. Special Requirements. Special requirements apply to the following organizations:. 1) Affiliated corporations which are included in a consolidated federal return shall file separate Maryland returns, and each separate corporation shall report its taxable inc
03.04.03.04.htm 03.04.03.04. 04 Filing of Returns.. A. A corporation shall file a corporation income tax return by the 15th day of the 4th month following the end of the tax year or period. The return shall be filed with a copy of the federal return for the corresponding tax year or period.B. Certain organizations that are afforded a later due date for filing federal returns under the Internal Revenue Code shall be afforded the same later due date for filing Maryland income tax returns.
03.04.03.05.htm 03.04.03.05. 05 Computing the Tax.. A. Accounting Periods. The taxable year or period for which the return is filed shall be the same as that for which the federal return is filed, and in every instance that a federal return is required, a corresponding State return shall be filed.B. Use of Federal Figures. The starting point for the Maryland return is the taxable income as defined in the Internal Revenue Code and developed on the federal return. Corporations included in a cons
03.04.03.06.htm 03.04.03.06. 06 Other Forms, Returns, Schedules, and Statements.. A. Copy of Federal Return Required.. 1) Failure to attach the required federal copy to the Maryland return shall constitute a nonfiling.. 2) Corporations included in a consolidated filing for federal purposes shall attach a copy of pages one through five of the actual consolidated return and shall also provide a copy of the columnar schedule of income and expense, and of balance sheet items, reconciling the se
03.04.03.07.htm 03.04.03.07. 07 Losses, Audits, and Appeals.. A. Net Operating Loss Deduction.. 1) For the loss year, the net operating loss may be used to offset Maryland modifications.. 2) The deductions for carryback and carryover shall be calculated and claimed following federal income tax provisions, and a modification to the amount of the deductions may not be allowed under Maryland income tax law.3) When an affiliated group of corporations files a consolidated return for federal purposes, each s
03.04.03.08.htm 03.04.03.08. 08 Apportionment of Income.. A. Corporations engaged in multistate operations shall allocate income to reflect the amount attributable to this State.B. Multistate corporations operating as unitary businesses shall use an apportionment formula to determine the amount of income to be allocated:1) All of the factors of the apportionment formula shall be developed as fractions, the numerator of which shall be the total of items in this State during the tax year, and t
03.04.03.09.htm 03.04.03.09. 09 Apportionment of Income―Motion Picture and Television Film Producers and Television Networks.. A. Scope.. 1) This regulation applies to:. a) Motion picture and television film producers and affiliated distribution companies;. b) Producers of television commercials;. c) Television networks; and. d) Independent television stations, to the extent they are members of a chain of commonly owned stations all of which operate as network affiliates or all of which are unaffil
03.04.03.10.htm 03.04.03.10. 10 Apportionment of Income―Single Sales Factor Apportionment for Manufacturing Corporations.. A. Scope. This regulation provides specific guidelines for manufacturing corporations subject to the Maryland income tax laws.B. In this regulation, the following terms have the meanings indicated:. 1) Manufacturing Corporation.. a) "Manufacturing corporation" means a domestic or foreign corporation that is primarily engaged in activities that, in accordance with the North Amer
03.04.03.9999.htm 03.04.03.9999. Administrative History Effective date: January 9, 1989 (15:27 Md. R. 3126). Regulation .01 amended effective January 1, 1998 (24:12 Md. R. 861) June 25, 2001 (28:12 Md. R. 1103)Regulation .03B amended effective January 1, 1998 (24:12 Md. R. 861) January 14, 1999 (26:1 Md. R. 22) October 9, 2006 (33:20 Md. R. 1612)Regulation .03C amended effective January 14, 1999 (26:1 Md. R. 22) October 9, 2006 (33:20 Md. R. 16Regulation .04A amended effective March 27, 2017 (44:6 Md. R. 324).
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