Maryland Form 500D – Fill Out and Use This PDF

MARYLAND

FORM

500D

(Revised 1996)

DECLARATION OF ESTIMATED CORPORATION INCOME TAX

SIGNATURE AND VERIFICATION: I declare that I have exam ined this declaration and to the best of m y knowledge and belief, it is true, correct and com plete.

Officer’s (or preparer’s) signature

Date

CHECK HERE □ to request replacement vouchers for the remainder of the current taxable year.

Amount of tax enclosed (if am ount of estim ated tax is zero, do not file this form )

Title (or preparer’s firm nam e and address)

DO NOT USE THIS FORM IF THE CORPORATION HAS FORM 500DP

INSTRUCTIONS FOR MARYLAND FORM 500D (Revised 1996)

DECLARATION OF ESTIMATED CORPORATION INCOME TAX

GENERAL INSTRUCTIONS

Purpose of Form Form 500D is used by a corporation to declare and remit estimated income tax when the preprinted Form 500DP is unavailable.

Corporations expected to be subject to estimated tax require- ments should have received a Declaration of Estimated Corporation Income Tax Packet. The estimated tax packet includes a work- sheet, record of payments, four preprinted vouchers (Form 500DP) and instructions. Please use the Form 500DP which contains pre- printed taxpayer information and provides for prompt and accurate processing of the declaration payment.

If the corporation does not have the estimated tax packet, use Form 500D to remit any payment due.

NOTE: Do not use this form for pass-through entities (including S corporations) or to remit employer withholding tax.

General Requirements Every corporation having Maryland taxable income which will develop a tax in excess of $1,000 for the taxable year or period must make estimated income tax pay- ments. The total estimated tax payments for the year must be at least 90% of the tax developed for the current taxable year or 100% of the tax developed for the prior tax year. At least 25% of the total estimated tax must be remitted by each of the four installment due dates.

In the case of a short tax period the total estimated tax required is the same as for a regular taxable year, 90% of the tax developed for the current (short) taxable year or 100% of the tax developed for the prior tax year. The minimum estimated tax for each of the installment due dates is the total estimated tax required divided by the number of installment due dates occurring during the short tax year.

Maryland law provides for the accrual of interest and imposition of penalty for failure to pay any tax when due.

If it is necessary to amend the estimated, recalculate the amount of estimated tax required using the estimated tax worksheet provided on this form. Adjust the amount of the next installment to reflect any previous underpayment or overpayment. The remaining installments must be at least 25% of the amended estimated tax due for the year.

Consolidated returns are not allowed under Maryland law. Affiliated corporations which file a consolidated federal return must file separate Maryland declarations for each member corporation.

When and Where to File File Form 500D on or before the 15th day of the 4th, 6th, 9th and 12th months following the beginning

of the taxable year or period. In addition to payment with Form 500DP or 500D, the corporation may partially or fully apply any overpayment from the prior year Form 500 – Corporation Income Tax Return to the estimated tax obligation for this year.

The estimated tax must be filed with the Comptroller of the Treasury, Revenue Administration Division, Annapolis, Maryland 21411-0001.

SPECIFIC INSTRUCTIONS

Name, Address and Other Information Type or print the required information in the designated area. DO NOT USE THE LABEL FROM THE TAX BOOKLET COVER.

Enter the name exactly as specified in the Articles of Incorpo- ration, or as amended, and continue with any “Trading As” (T/A) name if applicable.

Enter the Federal Employer Identification Number (FEIN). If the FEIN has not been secured, enter “APPLIED FOR” followed by the date of application. If a FEIN has not been applied for, do so immediately.

Check the box to request replacement vouchers for the remainder of the current taxable year. Do not check the box to request vouchers for the next taxable year; a packet including vouchers will be issued automatically.

Taxable Year or Period ENTER THE BEGINNING AND END-

ING DATES OF THE TAXABLE YEAR IN THE SPACE PROVIDED ON FORM 500D.

The same taxable year or period used for the federal return must be used for Form 500D.

Amount of Tax Enclosed Enter the amount of tax due in the space provided and remit full payment with this form.

Signature and Verification An authorized officer or the paid preparer must sign and date Form 500D indicating the corporate title or preparer firm name and address.

Payment Instructions Include a check or money order made payable to the Comptroller of the Treasury for the full amount due. All payments must indicate the Federal Employer Identification Number, type of tax and tax year beginning and ending dates.

DO NOT SEND CASH.

Mailing Instructions Use the envelope provided in the tax booklet and place an “X” in the appropriate box in the lower left corner to indicate the type of document enclosed. Also, be sure to read and follow the reminders listed on the back of the envelope.