Maryland

Corporate income tax

File Form 500 by the 15th day of the 4th month following the close of the tax year or period, or by the original federal due date. Rate 8.25%.

Extension. Form 500E; extension of up to seven months to file, granted if the application is filed by the original due date with full payment of any balance due

Partnerships and S corporations

Form 510 is an information return but the PTE must pay nonresident member tax (6.50% plus 2.25% special nonresident tax for nonresident individuals; 8.25% for nonresident entities). Alternatively the PTE may elect (Form 511) to pay Maryland tax at the entity level on behalf of all members; the election is made on the first filing of the year (510/511D or 510/511E) and is irrevocable for that year. S corporations with federal corporate-level tax also file Form 500.

Sales and use tax

Due date. Return is due on the 20th day of the month following the month in which the period ends; next business day if the 20th is a weekend or legal holiday.

Filing frequency. New accounts initially file quarterly; depending on actual payments the Comptroller may change the schedule to monthly, quarterly, bi-annual (semiannual) or annual and gives advance notice of any change. Filing is through Maryland Tax Connect.

Notes

Maryland has no franchise tax, gross receipts tax or corporate minimum tax administered by the Comptroller. The Maryland Annual Report / personal property return is a State Department of Assessments and Taxation filing, not a Comptroller filing, so it is not covered here. Timely-filing vendor discount on sales tax: 1.2% of first $6,000 and 0.9% above, capped at $500 per return.