Maryland Form 500 at a glance
What it is: Maryland Form 500 is the Corporation Income Tax Return.
Where and when to file: Mail to: Comptroller Of Maryland Revenue Administration Division 110 Carroll Street Annapolis, Maryland 21411-0001.
A filled-in Maryland Form 500 example: a domestic corporation reports its federal taxable income
How to fill out Maryland Form 500, box by box
Federal Employer Identification Number and Current Mailing Address
Print using blue or black ink only.
Enter the Federal Employer Identification Number (9 digits), the Date of Organization or Incorporation (MMDDYY) and the Business Activity Code No. (6 digits).
Enter the Current Mailing Address (PO Box, Number, Street and Apt. No.), Current Mailing Address Line 2 (Apt No., Suite No., Floor No.), and City or Town, State and ZIP Code + 4.
Enter the Foreign Country Name, Foreign Province/State/County and Foreign Postal Code.
Check here if
Check here if: Name has changed, Inactive corporation, First filing of the corporation, Final Return, or This tax year's beginning and ending dates are different from last year's due to an acquisition or consolidation.
Net operating loss
If filing to claim a net operating loss, check the appropriate box, Carryback or Carryforward, and attach copies of the federal form for the loss year and Form 1139.
Federal Taxable Income
Attach a copy of the federal income tax return through Schedule M2. On line 1a, enter the Federal Taxable Income from Federal Form 1120 line 28 or Form 1120-C line 25c.
If 1120S, file on Form 510.
On line 1b, enter Special Deductions from Federal Form 1120 line 29b or Form 1120-C line 26b.
On line 1c, enter the Federal Taxable Income before net operating loss deduction: subtract line 1b from 1a.
Maryland adjustments to Federal Taxable Income
All entries must be positive amounts.
Enter Section 10-306.1 related party transactions on line 2a. On line 2b, enter the Decoupling Modification Addition adjustment (Enter code letter(s) from instructions). On line 2c, enter the Total Maryland Addition Adjustments to Federal Taxable Income (Add lines 2a and 2b). Under subtraction adjustments, enter on line 3a Section 10-306.1 related party transactions. On line 3b, enter Dividends for domestic corporation claiming foreign tax credits (Federal form 1120/1120C Schedule C line 18).
Maryland Adjusted Federal Taxable Income
On line 3e, enter the Total Maryland Subtraction Adjustments to Federal Taxable Income: add lines 3a through 3d.
On line 4, enter the Maryland Adjusted Federal Taxable Income before NOL deduction is applied: add lines 1c and 2c, and subtract line 3e.
On line 5, enter the 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.).
On line 6, enter the 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.
Maryland addition modifications
Maryland addition modifications: all entries must be positive amounts.
On line 7a, enter State and local income tax.
On line 7g, enter the Total Addition Modifications: add lines 7a through 7f.
Total Subtraction Modifications
On line 8c, enter the Total Subtraction Modifications: add lines 8a and 8b.
Net Maryland modifications, apportionment and tax
On line 9, enter the Total Maryland Modifications: subtract line 8c from 7g; if less than zero, enter negative amount.
On line 10, enter the Maryland Modified Income: add lines 6 and 9.
Apportionment of Income is to be completed by multistate corporations whose apportionment factor is less than 1, otherwise skip to line 13.
On line 11, enter the Maryland apportionment factor from page 4 of this form; if factor is zero, enter .000000.
On line 12, enter the Maryland apportionment income: multiply line 10 by line 11.
On line 13, enter the Maryland taxable income from line 10 or line 12, whichever is applicable.
On line 14, enter the Tax: multiply line 13 by 8.25%.
Estimated tax paid
On line 15a, enter the Estimated tax paid with Form 500D, and/or credited from previous year overpayment.
On line 15b, enter the Tax paid with an extension request (Form 500E).
You must file this form electronically to claim business tax credits from Form 500CR.
Check here if you are a non-profit corporation.
Balance of tax due or overpayment
On line 15i, enter the Total payments and credits: add lines 15a through 15h.
On line 16, enter the Balance of tax due: if line 14 exceeds line 15i, enter the difference.
On line 17, enter the Overpayment: if line 15i exceeds line 14, enter the difference.
On line 21, enter the 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.
Direct deposit of refund
If you are requesting direct deposit of your refund, check here if you authorize the State of Maryland to issue your refund by direct deposit.
Verify that all account information is correct and clearly legible.
Signature and Verification
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."
Officer's signature and Preparer's signature (Required by Law).
More rules for Maryland 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.
Common questions about Maryland Form 500
What is MD Form 500?
Maryland Form 500 is the Corporation Income Tax Return. INCLUDE ALL REQUIRED PAGES OF FORM 500.
Where do I file it?
Mail to: Comptroller Of Maryland Revenue Administration Division 110 Carroll Street Annapolis, Maryland 21411-0001.
Sources
[1] Maryland Form 500 (COM/RAD-001 06/25), Corporation Income Tax Return, Comptroller of Maryland (the Official source link on this page).