Md. Code, Tax - General § 10-104
This is the official text of Md. Code, Tax - General § 10-104, part of Maryland’s Code, Tax - General — governs state taxation.
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§10–104.
Official statutory text
The income tax does not apply to the income of:
(1) a common trust fund, as defined in § 3–501(b) of the Financial Institutions Article;
(2) except as provided in §§ 10–101(e)(3) of this subtitle and 10–304(2) of this title, an organization that is exempt from taxation under § 408(e)(1) or § 501 of the Internal Revenue Code;
(3) a financial institution that is subject to the financial institution franchise tax;
(4) a person subject to taxation under Title 6 of the Insurance Article;
(5) except as provided in § 10–102.1 of this subtitle, a partnership, as defined in § 761 of the Internal Revenue Code;
(6) except as provided in § 10–102.1 of this subtitle and § 10–304(3) of this title, an S corporation;
(7) except as provided in § 10–304(4) of this title, an investment conduit or a special exempt entity; or
(8) except as provided in § 10–102.1 of this subtitle, a limited liability company as defined under Title 4A of the Corporations and Associations Article to the extent that the company is taxable as a partnership, as defined in § 761 of the Internal Revenue Code.
(1) a common trust fund, as defined in § 3–501(b) of the Financial Institutions Article;
(2) except as provided in §§ 10–101(e)(3) of this subtitle and 10–304(2) of this title, an organization that is exempt from taxation under § 408(e)(1) or § 501 of the Internal Revenue Code;
(3) a financial institution that is subject to the financial institution franchise tax;
(4) a person subject to taxation under Title 6 of the Insurance Article;
(5) except as provided in § 10–102.1 of this subtitle, a partnership, as defined in § 761 of the Internal Revenue Code;
(6) except as provided in § 10–102.1 of this subtitle and § 10–304(3) of this title, an S corporation;
(7) except as provided in § 10–304(4) of this title, an investment conduit or a special exempt entity; or
(8) except as provided in § 10–102.1 of this subtitle, a limited liability company as defined under Title 4A of the Corporations and Associations Article to the extent that the company is taxable as a partnership, as defined in § 761 of the Internal Revenue Code.
Status: in_force · Read it on the official government site
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