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Maryland Free Printable Tax Year 2023 Corporation Income Tax Return for 2024 Maryland Maryland Corporation Income Tax Return

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Maryland Corporation Income Tax Return
Tax Year 2023 Corporation Income Tax Return

MARYLAND FORM 500 2023 CORPORATION INCOME TAX RETURN OR FISCAL YEAR BEGINNING $ 2023, ENDING Federal Employer Identification Number (9 digits) Date of Organization or Incorporation (MMDDYY) Business Activity Code No. (6 digits) Name Current Mailing Address (PO Box, Number, Street and Apt. No.) Do not write in this space. Current Mailing Address Line 2 (Apt No., Suite No., Floor No.) City or Town ME State Foreign Country Name Amended Return YE ZIP Code + 4 Foreign Province/State/County Foreign Postal Code STAPLE CHECK HERE Print Using Blue or Black Ink Only FEIN Applied for Date (MMDDYY) CHECK HERE IF: Name or address has changed Inactive corporation First filing of the corporation Final Return This tax year's beginning and ending dates are different from last year's due to an acquisition or consolidation. IF FILING TO CLAIM A NET OPERATING LOSS, CHECK THE APPROPRIATE BOX Attach copies of the federal form for the loss year and Form 1139. Carryback Carryforward SEE CORPORATION INSTRUCTIONS. ATTACH A COPY OF THE FEDERAL INCOME TAX RETURN THROUGH SCHEDULE M2. 1a. Federal Taxable Income (Enter amount from Federal Form 1120 line 28 or Form 1120-C line 25c.) See Instructions. Check applicable box: 1120 1120-REIT 990T 00 Other: IF 1120S, FILE ON FORM 510 . . . . . . . . . . . . . . . 1a. 1b. Special Deductions (Federal Form 1120 line 29b or 00 Form 1120-C line 26b.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b. 1c. Federal Taxable Income before net operating loss deduction 00 (Subtract line 1b from 1a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c. MARYLAND ADJUSTMENTS TO FEDERAL TAXABLE INCOME (All entries must be positive amounts.) ADDITION ADUSTMENTS 00 2a. Section 10-306.1 related party transactions. . . . . . . . . . . . . . . . . . . . . . . . 2a. 2b. Decoupling Modification Addition adjustment 00 (Enter code letter(s) from instructions.). . . . . . . . . . 2b. 00 2c. Total Maryland Addition Adjustments to Federal Taxable Income (Add lines 2a and 2b). . . . . . . 2c. SUBTRACTION ADJUSTMENTS 3a. Section 10-306.1 related party transactions. . . . . . . . . . . . . . . . . . . . . . . . 3b. Dividends for domestic corporation claiming foreign tax credits (Federal form 1120/1120C Schedule C line 18). . . . . . . . . . . . . . . . . . . . . . COM/RAD-001 3a. 00 3b. 00 MARYLAND FORM 500 NAME CORPORATION INCOME TAX RETURN 2023 page 2 FEIN 3c. Dividends from related foreign corporations (Federal form 1120/1120C Schedule C line 14, 16b and 16c). . . . . . . . . . . . 3c. 3d. Decoupling Modification Subtraction adjustment (Enter code letter(s) from instructions.). . . . . . . . . . 3d. 3e. Total Maryland Subtraction Adjustments to Federal Taxable Income (Add lines 3a through 3d.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3e. 4. Maryland Adjusted Federal Taxable Income before NOL deduction is applied (Add lines 1c and 2c, and subtract line 3e.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. 5. Enter Adjusted Federal NOL Carry-forward available from previous tax years (including FDSC Carry-forward) on a separate company basis (Enter NOL as a positive amount.). . . . . 5. 6. Maryland Adjusted Federal Taxable Income (If line 4 is less than or equal to zero, enter amount from line 4.) (If line 4 is greater than zero, subtract line 5 from line 4 and enter result. If result is less than zero, enter zero.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. MARYLAND ADDITION MODIFICATIONS (All entries must be positive amounts.) 7a. State and local income tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a. 7b. Dividends and interest from another state, local or federal tax exempt obligation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7b. 7c. Net operating loss modification recapture (Do not enter NOL carryover. See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7c. 7d. Domestic Production Activities Deduction. . . . . . . . . . . . . . . . . . . . . . . . . . 7d. 7e. Deduction for Dividends paid by captive REIT. . . . . . . . . . . . . . . . . . . . . . .   7e. 7f. Other additions (Enter code letter(s) from instructions and attach schedules). . . . . . . . . . . . . . 7f. 7g. Total Addition Modifications (Add lines 7a through 7f). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7g. MARYLAND SUBTRACTION MODIFICATIONS (All entries must be positive amounts.) 8a. Income from US Obligations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   8a. 8b. Other subtractions (Enter code letter(s) from instructions and attach schedule) . . . . . . . . . . . . . . 8b. If you are claiming subtraction H, enter your state cannabis business license number: 8c. Total Subtraction Modifications (Add lines 8a and 8b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8c. 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 NET MARYLAND MODIFICATIONS 9. Total Maryland Modifications (Subtract line 8c from 7g. If less than zero, 00 enter negative amount.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. 00 10. Maryland Modified Income (Add lines 6 and 9.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. APPORTIONMENT OF INCOME (To be completed by multistate corporations whose apportionment factor is less than 1, otherwise skip to line 13.) 11. Maryland apportionment factor (from page 4 of this form) (If factor is zero, enter .000000.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   11. . 00 12. Maryland apportionment income (Multiply line 10 by line 11.) . . . . . . . . . . . . . . . . . . . . . . . . 12. 00 13. Maryland taxable income (from line 10 or line 12, whichever is applicable.). . . . . . . . . . . . . . . 13. 00 14. Tax (Multiply line 13 by 8.25%.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. 15a. Estimated tax paid with Form 500D, Form MW506NRS and/or credited 00 from 2022 overpayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  15a. 00 15b. Tax paid with an extension request (Form 500E) . . . . . . . . . . . . . . . . . . . .  15b. 15c. Nonrefundable business income tax credits from Part AAA. (See instructions for Form 500CR.) You must file this form electronically to claim business tax credits from Form 500CR. 15d. Refundable business income tax credits from Part DDD. (See instructions for Form 500CR.) 15e. The Heritage Structure Rehabilitation Tax Credit is claimed on line 1 of Part DDD on Form 500CR. Check here if you are a non-profit corporation. COM/RAD-001 CORPORATION INCOME TAX RETURN MARYLAND FORM 500 NAME 2023 page 3 FEIN 15f. Nonresident tax paid on behalf of the corporation by pass-through entities (Attach Maryland Schedule 510/511 K-1.). . . . . . . . . . . . . . . . . . . . . . . . . 15f. 15g. If amending, total payments made with original plus additional tax paid after original was filed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15g. 15h. Total payments and credits (add lines 15a through 15g) . . . . . . . . . . . . . . . . . . . . . . . . . . . 15h. 16. Balance of tax due (If line 14 exceeds line 15h enter the difference.) . . . . . . . . . . . . . . . . . 16. 17. Overpayment (If line 15h exceeds line 14, enter the difference.) . . . . . . . . . . . . . . . . . . . . 17. 17a. If amending prior overpayment (Total all refunds previously issued.) . . . . . . . . . . . . . . . . . . 17a. 18. Interest and/or penalty from Form 500UP or late payment interest for original return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   18. 19. Total balance due (Add lines 14, 17a and 18. Subtract line 15h.). . . . . . . . . . . . . . . . . . . . . 19. 20. Amount of overpayment from original return to be applied to estimated tax for 2024 (not to exceed the net of lines 17 minus 17a and 18.). . . . . . . . . . . . . . . . . . . . . . . . . . . . 20. 21. Amount of overpayment TO BE REFUNDED (Add lines 18 and 20, and subtract the total from line 17.) (If amending subtract lines 17a and 18 from line 17.). . . . . . . . . . . . . . . . . . . . . . . . . . . 21. 00 00 00 00 00 00 00 00 00 00 DIRECT DEPOSIT OF REFUND (See Instructions.) Verify that all account information is correct and clearly legible. If you are requesting direct deposit of your refund, complete the following. Check here if you authorize the State of Maryland to issue your refund by direct deposit. Check here if this refund will go to an account outside of the United States. 22a. Type of account: Checking Savings 22b. Routing Number (9-digits): 22c. Account number: 22d. Name as it appears on the bank account: INFORMATIONAL PURPOSES ONLY (LINES 23 & 24) 23. 24. NOL generated in Current Year - Carryforward 20 years and carry back 2 years (farming loss ONLY). (If line 6 is less than zero, enter on line 23.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23. NAM generated in Current Year - Carried Forward/Back with Loss on Line 23 per Section 10-205(e) (If line 6 is less than zero AND line 9 is greater than zero, enter the amount from line 9 on line 24.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24. 00 00 FOR USE IF AMENDING THE RETURN Explanation of Changes to Income, Modifications, Apportionment Factor and Credits. Show the computation in detail and attach schedules as necessary. Check the box or boxes that reflect the reason for filing this amended return and explain in the space provided below the checkboxes. If more space is needed, you may attach additional pages. 1. 2. 3. 4. 5. 6. 7. Amended Amended Amended Amended Amended Amended Amended to claim a Net Operating Loss Deduction to report a federal adjustment or an RAR (Revenue Agent Report) to claim Business Tax Credit. to claim nonresident PTE Tax Credit to report income omitted on previous filing to change apportionment factor for another reason Explanation of Changes:____________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ COM/RAD-001 MARYLAND FORM 500 NAME 2023 CORPORATION INCOME TAX RETURN page 4 FEIN Schedule A - COMPUTATION OF APPORTIONMENT FACTOR (Applies only to multistate corporations. See instructions.) NOTE: Rental/leasing companies, financial institutions, transportation companies, and worldwide headquartered companies see instructions on Special Apportionment. 1. Receipts a. Gross receipts or sales less returns and allowances . . . . . . . . . . . . . . . . . . . . . . Column 1 TOTALS WITHIN MARYLAND Column 2 TOTALS WITHIN AND WITHOUT MARYLAND Column 3 DECIMAL FACTOR (Column 1 ÷ Column 2 rounded to six places) 00 00 b. Dividends . . . . . . . . . . . . . . . . . . . . . . . 00 00 c. Interest . . . . . . . . . . . . . . . . . . . . . . . . . 00 00 d. Gross rents. . . . . . . . . . . . . . . . . . . . . . . 00 00 e. Gross royalties . . . . . . . . . . . . . . . . . . . . 00 00 f. Capital gain net income. . . . . . . . . . . . . . 00 00 g. Other income (Attach schedule.). . . . . . . . h. Total receipts (Add lines 1(a) through 1(g), for Columns 1 and 2.) . . . . . . . . . . . . . . 00 00 00 00 a. Inventory. . . . . . . . . . . . . . . . . . . . . . . . 00 00 b. Machinery and equipment . . . . . . . . . . . . 00 00 c. Buildings . . . . . . . . . . . . . . . . . . . . . . . . 00 00 d. Land . . . . . . . . . . . . . . . . . . . . . . . . . . . 00 00 e. Other tangible assets (Attach schedule.). . 00 00 00 00 00 00 a. Compensation of officers. . . . . . . . . . . . . 00 00 b. Other salaries and wages. . . . . . . . . . . . . c. Total payroll (Add lines 3a and 3b, for Columns 1 and 2.). . . . . . . . . . . . . . . . . 00 00 00 00 . Report this factor on line 4 unless you use a special apportionment formula or alternative apportionment formula. 2. Property f. Rent expense capitalized (multiply by eight). . . . . . . . . . . . . . . . . . g. Total property (Add lines 2a through 2f, for Columns 1 and 2). . . . . . . . . . . . . . . 3. Payroll 4. Maryland apportionment factor Enter amount from Line 1 Column 3. If an alternative apportionment formula or a special apportionment formula is used, enter the alternative or special apportionment factor here. (If factor is zero, enter .000000 on line 11, page 2.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Check here if special apportionment or alternative apportionment formula is used. COM/RAD-001 . . . MARYLAND FORM 500 NAME CORPORATION INCOME TAX RETURN 2023 page 5 FEIN SCHEDULE B - ADDITIONAL INFORMATION REQUIRED (Attach a separate schedule if more space is necessary.) 1. Telephone number of corporation tax department: 2. Address of principal place of business in Maryland (if other than indicated on page 1): 3. 4. 5. 6. 7. 8. Brief description of operations in Maryland: Has the Internal Revenue Service made adjustments (for a tax year in which a Maryland return was required) that were not previously reported to the Maryland Revenue Administration Division?. . . . . Yes If "yes", indicate tax year(s) here: and submit an amended return(s) together with a copy of the IRS adjustment report(s) under separate cover. Did the corporation file employer withholding tax returns/forms with the Maryland Revenue Administration Division for the last calendar year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes Is this entity part of the federal consolidated filing?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes If a multistate operation, provide the following: Is this entity a multistate corporation that is a member of a unitary group?. . . . . . . . . . . . . . . . . . . Yes Is this entity a multistate manufacturer with more than 25 employees?. . . . . . . . . . . . . . . . . . . . . . Yes No No No No No SCHEDULE C - ADDITIONAL INFORMATION REQUIRED (Attach a separate schedule if more space is necessary.) 1. Subtraction for donations of certain disposable diapers, certain hygiene products, and certain monetary gifts. List the name(s) of the qualified charitable entity on the lines below. COM/RAD-001 MARYLAND FORM 500 2023 CORPORATION INCOME TAX RETURN page 6 SIGNATURE AND VERIFICATION Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements and to the best of my knowledge and belief it is true, correct and complete. If prepared by a person other than taxpayer, the declaration is based on all information of which the preparer has any knowledge. Check here if you authorize your preparer to discuss this return with us. Officer's signature Date Officer's Name and Title Preparer's signature (Required by Law) Printed name of the Preparer / or Firm's name Street address of preparer or Firm's address Date Telephone number of preparer City, State, ZIP Code + 4 Preparer’s PTIN (Required by Law) CODE NUMBERS (3 digits per line) INCLUDE ALL REQUIRED PAGES OF FORM 500 Make check or money order payable to Comptroller of Maryland. On your check or money order, in blue or black ink only, you must include the Federal Employer Identification Number, tax year, and tax type. Failure to include this information will delay the processing of your payment. Mail to: Comptroller Of Maryland Revenue Administration Division 110 Carroll Street Annapolis, Maryland 21411-0001 COM/RAD-001
Extracted from PDF file 2023-maryland-form-500.pdf, last modified September 2023

More about the Maryland Form 500 Corporate Income Tax Tax Return TY 2023

We last updated the Maryland Corporation Income Tax Return in January 2024, so this is the latest version of Form 500, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 500 directly from TaxFormFinder. You can print other Maryland tax forms here.


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Related Maryland Corporate Income Tax Forms:

TaxFormFinder has an additional 41 Maryland income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Maryland Form 500.

Form Code Form Name
Form 500E Application for an Extension to File Corporation Income Tax Return
500CR-Instructions Business Income Tax Credits
Form 500X Amended Corporation Income Tax Return
Form 500DM Decoupling Modification
Form 500D Declaration of Estimated Corporation Income Tax
Form 500MC Report of Maryland Multistate Manufacturing Corporation
Form 500UP Underpayment of Estimated Income Tax by Corporation

Download all MD tax forms View all 42 Maryland Income Tax Forms


Form Sources:

Maryland usually releases forms for the current tax year between January and April. We last updated Maryland Form 500 from the Comptroller of Maryland in January 2024.

Show Sources >

Form 500 is a Maryland Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Maryland Form 500

We have a total of thirteen past-year versions of Form 500 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form 500

Tax Year 2023 Corporation Income Tax Return

2022 Form 500

500 2022_49 121422 A

2021 Form 500

TY-2021-500

2020 Form 500

TY-2020-500

2019 Form 500

Tax Year 2019 - Corporation Income Tax Return

2018 Form 500

TY-2018-500.pdf


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