03.04.13.04

.04 Exempt Organizations.

An organization that is exempt from taxation under §501(c) (3) or (4) of the Internal Revenue Code may apply the credit allowed under this chapter:

A. Against the income tax due on unrelated business taxable income as provided under Tax-General Article, §§10-304 and 10-812, Annotated Code of Maryland; or

B. Against the payment to the Comptroller of taxes that the organization:

(1) Is required to withhold from the wages of employees under Tax-General Article, §10-908, Annotated Code of Maryland; and

(2) Is required to pay to the Comptroller under Tax-General Article, §10-906(a), Annotated Code of Maryland.