INSTRUCTIONS: MARYLAND CORPORATION INCOME TAX RETURN (Form 500)
Corporations doing business in Maryland should file their state income taxes using a form 500. This document can be obtained from the website of the Maryland comptroller.
Maryland Corporation Income Tax Return 500 Step 1: Enter the fiscal year starting and ending dates being filed for if not filing on a calendar year basis.
Maryland Corporation Income Tax Return 500 Step 2: Enter your corporation's name, street address, city, state and zip code.
Maryland Corporation Income Tax Return 500 Step 3: Enter your federal employer identification number or the date on which you applied for one.
Maryland Corporation Income Tax Return 500 Step 4: Enter the date of your business' organization or incorporation and its business activity code.
Maryland Corporation Income Tax Return 500 Step 5: Check the applicable boxes if filing a return documenting a name or address change, a return for an inactive corporation, a first or final filing, or if your fiscal year start and end dates are different from those on your previous year's return.
Maryland Corporation Income Tax Return 500 Step 6: Enter your total federal taxable income on line 1.
Maryland Corporation Income Tax Return 500 Step 7: Document all additions as instructed on lines 2a through 2h. Enter the sum of lines 1 and 2h on line 3.
Maryland Corporation Income Tax Return 500 Step 8: Document your subtractions on lines 4a through 4f. Subtract line 4f from line 3 and enter the difference on line 5.
Maryland Corporation Income Tax Return 500 Step 9: If you are a multistate corporation, skip to Schedule A on the second page to calculate your Maryland apportionment factor. Transfer the result from line 5 of Schedule A to line 6 on the first page. Multiply line 5 by 6 and enter the product on line 7. Otherwise, skip Schedule A and lines 6 and 7.
Maryland Corporation Income Tax Return 500 Step 10: Follow the instructions on lines 8 through 16 to determine the amount of your tax liability or refund owed. If the latter and you wish to receive it as a direct deposit, provide your bank account information on line 17.
Maryland Corporation Income Tax Return 500 Step 11: Answer all questions in Schedule B on the second page.
Maryland Corporation Income Tax Return 500 Step 12: An officer should sign and date the form.
