Maryland Code — Tax-General + Tax-Property Articles

Md. Code Ann., Tax-Gen. § 10-305

§ 10-305

Official textmgaleg.maryland.gov10 subsections

# (a)

To the extent excluded from federal taxable income, the amounts under this section are added to the federal taxable income of a corporation to determine Maryland modified income.

# (b)

The addition under subsection (a) of this section includes the net capital loss carryback, as defined in § 1212 of the Internal Revenue Code.

# (c)

The addition under subsection (a) of this section includes any taxes based on net income that are imposed by any state or by a political subdivision of any state.

# (d)

The addition under subsection (a) of this section includes the additions required for an individual under:

# (1)

§ 10–204(b) of this title (Dividends and interest from another state or local obligation);

# (2)

§ 10–204(c)(2) of this title (Federal tax–exempt income);

# (3)

§ 10–204(e) of this title (Oil percentage depletion allowance);

# (4)

§ 10–204(i) of this title (Deduction for qualified production activities income);

# (5)

§ 10–204(j) of this title (Deduction for costs for security clearance administrative expenses and construction and equipment costs incurred to construct or renovate a sensitive compartmented information facility); and

# (6)

§ 10–204(l) of this title (Deduction for donations to qualified permanent endowment funds).

Source: view the official text

In this article (40 sections)

Full table of contents →