Maryland Form 500 – Fill Out and Use This PDF

The Maryland 500 form, officially known as the Maryland Corporation Income Tax Return, serves as the primary document for corporations operating within the state to report their income taxes for either the calendar year or a fiscal year beginning in 2020. This comprehensive form requires detailed financial information, including federal taxable income adjustments specific to Maryland tax law, deductions, and net operating loss applications, thus ensuring accurate tax obligations are met. For those navigating the intricacies of corporate tax responsibilities in Maryland, understanding and correctly completing this form is crucial.

Ensure your corporation meets its tax obligations accurately by clicking the button below to fill out the Maryland 500 form.

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Maryland Form 500 PDF Details

Navigating the intricacies of corporate taxation can be a daunting task, especially when dealing with specific state requirements. The Maryland Corporation Income Form Tax Return 500 for the year 2020 stands as a critical document for corporations operating within the state. This comprehensive form encompasses various aspects of a company's income, deductions, and tax obligations for the fiscal year. Essential components include the Federal Employer Identification Number (FEIN), business activity codes, and details regarding the corporation’s organizational structure. The form is also designed to capture changes in corporate status such as address updates, inactive or final return filings, and modifications due to acquisitions or consolidations. It delves into calculating federal taxable income, making adjustments based on Maryland-specific tax codes, and determining the net operating loss carryback or carryforward, if applicable. Businesses must also navigate through addition and subtraction adjustments tailored to the state's tax code, ensuring accurate portrayal of their financial standing. Furthermore, it addresses the calculation of Maryland modified income, apportionment for multistate corporations, and the utilization of various tax payments and credits. With provisions for direct deposit of refunds and specific sections dedicated to amendments, the form embodies a meticulous process aimed at streamlining corporate tax returns within Maryland. Accuracy and thoroughness are paramount, as this form directly affects the financial obligations of corporations to the state.

Question	Answer
Form Name	Maryland Form 500
Form Length	6 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min 30 sec
Other names	form 500 tax form, maryland form 500 income tax, maryland form 500 2020, 2020 md form 500

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	MARYLAND	CORPORATION INCOME
	FORM	TAX RETURN
500		TAX RETURN
500		2020
		2020
OR FISCAL YEAR BEGINNING			2020, ENDING
				$


Federal Employer Identification Number (9 digits)	FEIN Applied for Date (MMDDYY)

Date of Organization or Incorporation (MMDDYY)		Business Activity Code No. (6 digits)

Print Using Blue or Black Ink Only

CHECK

Name

Current Mailing Address Line 1 (Street No. and Street Name or PO Box)

Current Mailing Address Line 2 (Apt No., Suite No., Floor No.)

City or town

State

ZIP Code

Do not write in this space.

ME YE

Amended Return

STAPLE HERE

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
1b.	Other:		IF 1120S, FILE ON FORM 510										. .1a.			.00
	Other:		IF 1120S, FILE ON FORM 510										. .1a.			.00
	Special Deductions (Federal Form 1120 line 29b or
1c.	Form 1120-C line 26b.)			. . . . . . . . . . . .	. . .	.	. . .	.	. . .	.	. .	.	. .1b.			.00
	Form 1120-C line 26b.)												. .1b.			.00
	Federal Taxable Income before net operating loss deduction
	(Subtract line 1b from 1a)			. . . . . . . . . . . .	. . .	.	. . .	.	. . .	.	. .	.	. . . . . .	. . . .	. 1c.			.00
MARYLAND ADJUSTMENTS TO FEDERAL TAXABLE INCOME
(All entries must be positive amounts.)
ADDITION ADUSTMENTS
2a.	Section 10-306.1 related party transactions . . . . . . . . . . . . . . . . . . . . . . . 2a.																.00
2b.	Decoupling Modification Addition adjustment
	(Enter code letter(s) from instructions.)												2b.				.00
2c. Total Maryland Addition Adjustments to Federal Taxable Income (Add lines 2a and 2b) . . . .															. . . 2c.			. 00
															. . . 2c.			. 00
SUBTRACTION ADJUSTMENTS
3a.	Section 10-306.1 related party transactions												3a.			. 00
3b.	Dividends for domestic corporation claiming foreign tax credits
	(Federal form 1120/1120C Schedule C line 18)												3b.			. 00
3c. Dividends from related foreign corporations
3d.	(Federal form 1120/1120C Schedule C line 14, 16b and 16c)												3c.			. 00
	(Federal form 1120/1120C Schedule C line 14, 16b and 16c)												3c.			. 00
	Decoupling Modification Subtraction adjustment
	. . . . . . . . . .(Enter code letter(s) from instructions.)												3d.			. 00


3e.	Total Maryland Subtraction Adjustments to Federal Taxable Income
	(Add lines 3a through 3d.)			. . . . . . . . . . . .	. . .	.	. . .	.	. . .	.	. .	.	. . . . . .	. . . . . . . 3e.					.00

COM/RAD-001

. 00

You must file this form electronically to

claim business tax credits from Form 500CR.

	MARYLAND	CORPORATION INCOME
	FORM	TAX RETURN
500		TAX RETURN
500				2020
				2020
NAME			FEIN	page 2
NAME			FEIN

4.Maryland Adjusted Federal Taxable Income before NOL deduction is applied

(Add lines 1c and 2c, and subtract line 3e.)	4.	.00
5. Enter Adjusted Federal NOL Carry-forward available from previous tax years (including	5.
FDSC Carry-forward) on a separate company basis (Enter NOL as a positive amount.)	5.	.00

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.)

.00

MARYLAND ADDITION MODIFICATIONS

(All entries must be positive amounts.)

7a.

State and local income tax

7a.

. 00

7b.

Dividends and interest from another state, local or federal tax

exempt obligation

7b.

. 00

7c.

Net operating loss modification recapture (Do not enter NOL carryover.

See instructions.)

7c.

. 00

7d.

Domestic Production Activities Deduction . . . . . . . . . . . . . . . . . . . . . . . . . 7d.

. 00

7e.

Deduction for Dividends paid by captive REIT

7e.

. 00

7f.

Other additions (Enter code letter(s) from

instructions and attach schedule)

7f.

.00

7g.

Total Addition Modifications (Add lines 7a through 7f.)

. . . . . . 7g.

. 00

MARYLAND SUBTRACTION MODIFICATIONS

(All entries must be positive amounts.)

8a.

Income from US Obligations

8a.

. 00

8b.

Other subtractions (Enter code letter(s) from

8c.

instructions and attach schedule)

8b.

. 00

Total Subtraction Modifications (Add lines 8a and 8b.)

. . . . . .8c.

. 00

NET MARYLAND MODIFICATIONS

Total Maryland Modifications (Subtract line 8c from 7g. If less than zero,

enter negative amount.)

. . . . . . . . . . . . . . . . . 9.

. 00

10.

Maryland Modified Income (Add lines 6 and 9.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.

. 00

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 .000001.)	11.	.
. . . . . . . . . . . . . . . . . . . . . . . .12. Maryland apportionment income (Multiply line 10 by line 11.)	12.		. 00
			. 00

13.	Maryland taxable income (from line 10 or line 12, whichever is applicable.) . . .		. . . . . . 13
14.	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Tax (Multiply line 13 by 8.25%.)		. . . . . .. . . . . . 14.
15a.	Estimated tax paid with Form 500D, Form MW506NRS and/or credited
	from 2019 overpayment		15a.
15b.	Tax paid with an extension request (Form 500E)		15b.
15c.	Nonrefundable business income tax credits from Part AAA. (See instructions for Form 500CR.)
15c.
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.
15f.	Nonresident/Resident tax paid on behalf of the corporation by pass-through entities
	(Attach Maryland Schedule 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.

.00

COM/RAD-001

	MARYLAND	CORPORATION INCOME
	FORM	TAX RETURN
500		TAX RETURN
500
NAME			FEIN

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 2021

(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.

2020

page 3

. 00

.00

. 00

DIRECT DEPOSIT OF REFUND (See Instructions.) Be sure the account information is correct.

To comply with banking and NACHA (National Automated Clearing House Association) rules, if this refund will go to an account

outside of the United States, place "Y" in this box

or if you authorize the State of Maryland to direct deposit your refund, check

this box

and complete the following information clearly and legibly.

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.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.

. 00

24.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

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. Amended to claim a Net Operating Loss Deduction

2. Amended to report a federal adjustment or an RAR (Revenue Agent Report)

3. Amended to claim Business Tax Credit.

4. Amended to claim nonresident PTE Tax Credit

5. Amended to report income omitted on previous filing

6. Amended to change apportionment factor

7. Amended for another reason stated below: ______________________________________________________

_________________________________________________________________________________________

COM/RAD-001

	MARYLAND	CORPORATION INCOME
	FORM	TAX RETURN
500		TAX RETURN
500				2020
				2020
NAME			FEIN	page 4

Schedule A - COMPUTATION OF APPORTIONMENT FACTOR (Applies only to multistate corporations. See instructions.)

NOTE: Special apportionment formulas are required for rental/		Column 1		Column 2		Column 3
		TOTALS WITHIN		TOTALS WITHIN		DECIMAL FACTOR
leasing, financial institutions, transportation and		TOTALS WITHIN		TOTALS WITHIN		DECIMAL FACTOR
leasing, financial institutions, transportation and		MARYLAND		AND WITHOUT		(Column 1 ÷ Column 2
manufacturing companies. Worldwide headquartered				MARYLAND		rounded to six places)
companies see instructions.				MARYLAND		rounded to six places)
companies see instructions.
1A. Receipts	a.Gross receipts or sales less returns and
	allowances	.00		.00
	b.Dividends	.		.	00
	b.Dividends		00		00
		.		.	00
	c. Interest		00		00
		.		.	00
	d.Gross rents		00		00
		.		.	00
	e.Gross royalties		00		00
		.		.	00
	f. Capital gain net income		00		00
		.		.	00
	g.Other income (Attach schedule.)		00		00
	h.Total receipts (Add lines 1A(a) through
1B. Receipts	1A(g), for Columns 1 and 2.)	.00		.00		.
1B. Receipts	Multiply factor on line 1A, Column 3 by 4.
	Disregard this line if special apportionment
	formula is used					.
2. Property	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
	f. Rent expense capitalized
	(multiply by eight)	.	00	.	00
	g.Total property (Add lines 2a through 2f,
	for Columns 1 and 2)	.	00	.	00	.
3. Payroll	a. Compensation of officers	. 00		.	00
	b.Other salaries and wages	.	00	.	00
	c. Total payroll (Add lines 3a and 3b, for
	Columns 1 and 2.)	.	00	.	00	.

4.Total of factors (Add entries in Column 3.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5.Maryland apportionment factor Divide line 4 by seven for three-factor formula, or by the number of factors used if special apportionment formula required. (If factor is zero, enter .000001 on line 11 page 2.)

Check here if special apportionment formula is used.

COM/RAD-001

	MARYLAND	CORPORATION INCOME
	FORM	TAX RETURN
500		TAX RETURN
500				2020
				2020
NAME			FEIN	page 5

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.Brief description of operations in Maryland:

4.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.

5.Did the corporation file employer withholding tax returns/forms with the Maryland Revenue

	Administration Division for the last calendar year?	Yes
6.	Is this entity part of the federal consolidated filing?	Yes
	If a multistate operation, provide the following:
7.	Is this entity a multistate corporation that is a member of a unitary group?	Yes
8.	Is this entity a multistate manufacturer with more than 25 employees?	Yes

No No

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

Preparer's name/or Firm's name, address and telephone number

Preparer’s PTIN (Required by law)

CODE NUMBERS (3 digits per line)

INCLUDE ALL REQUIRED PAGES OF FORM 500

Make checks payable to and mail to:

Comptroller Of Maryland

Revenue Administration Division

110 Carroll Street

Annapolis, Maryland 21411-0001

(Write Your FEIN On Check Using Blue Or Black Ink.)

COM/RAD-001

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md 500 tax form completion process detailed (step 1)

2. After this part is done, go to enter the suitable details in these: City or Town, State, ZIP Code, Foreign Country Name, Foreign Postal Code, Foreign ProvinceStateCounty, K C E H C E L P A T S, E R E H, CHECK HERE IF, Name or address has changed, Inactive corporation, First filing of the corporation, Final Return, This tax years beginning and, and IF FILING TO CLAIM A NET OPERATING.

3. This next section is related to c Total Maryland Addition, Federal form C Schedule C line, and COMRAD - fill out all these blanks.

md 500 tax form completion process described (stage 3)

Those who use this PDF frequently make errors when filling out COMRAD in this section. Ensure you reread whatever you type in here.

4. This next section requires some additional information. Ensure you complete all the necessary fields - NAME, FEIN, c Dividends from related foreign, Federal form C Schedule C line b, d Decoupling Modification, Enter code letters from, e Total Maryland Subtraction, Add lines a through d, Maryland Adjusted Federal Taxable, Add lines c and c and subtract, Enter Adjusted Federal NOL, FDSC Carryforward on a separate, Maryland Adjusted Federal Taxable, enter result If result is less, and MARYLAND ADDITION MODIFICATIONS - to proceed further in your process!

5. When you come near to the completion of your form, you will find a few more things to complete. In particular, c Net operating loss modification, See instructions, instructions and attach schedules, g Total Addition Modifications Add, instructions and attach schedule, If you are claiming subtraction H, c Total Subtraction Modifications, Total Maryland Modifications, enter negative amount, If factor is zero enter, Maryland apportionment income, from overpayment, and b Tax paid with an extension must be filled in.

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