Instructions For Form 500 - Maryland Corporation Income Tax Return

Maryland Corporation Taxpayers

New for tax years beginning in 2011

This booklet contains the necessary instructions for a

• Electric Vehicle Recharging Equipment Tax Credit:

corporation to file a Maryland corporation income tax return

An individual or a corporation may be certified to claim a

for tax year 2011. Please read the instructions carefully.

credit for certain amount of cost for qualified electric vehicle

Please use blue or black ink when completing your forms and

recharging equipment that is placed into service during the

checks.

tax year in which the credit is claimed.

To avoid delays in the processing of your return: do not use

• Film Production Employment Tax Credit:

pencil or ink of any other color; do not print returns on colored

Businesses may claim a tax credit for film production

paper; do not write on, staple or punch holes in the barcode.

activities that meet certain qualifications and the estimated

total direct costs incurred in this State for those activities

S corporation instructions are not included in this booklet. S

exceed $500,000. Certification from the Department of

corporations, partnerships, limited liability companies and

Business and Economic Development is required.

business trusts must use the pass-through entity tax return,

• New subtraction for interest income from Build America

Form 510.

Bonds.

Manufacturing corporations are subject to a special single

factor formula of receipts. The rules for calculating this single

• REMINDER: Calculation of Corporation Modified

factor can be found in Maryland Tax Regulation 03.04.03.10.

Taxable Income:

Certain corporations with net operating losses, special

Direct Deposit of refunds is available for all corporations.

deductions, and certain modifications to income are now

Form 500CR

required to complete and attach Form 500A, which will

develop an addition or subtraction modification to arrive at

Form 500CR is used by individuals and businesses to claim

the Maryland modified taxable income.

allowable business tax credits, as listed below. See page 4 of

the instructions for more information about these tax credits.

Filing electronically

• Bio-Heating Oil Tax Credit

• Biotechnology Investment Incentive Tax Credit

You may file your Maryland Corporation or Pass-Through

Entity returns electronically using the Modernized e-File

• Businesses That Create New Jobs Tax Credit

method of Federal/State 1120/1065 filing. For further

• Cellulosic Ethanol Technology Research &

information, contact our e-File Help Desk at 410-260-7753 or

Development Tax Credit

visit

• Clean Energy Incentive Tax Credit

Forms and help

• Community Investment Tax Credit

For online business registration, tax

forms, instructions,

• Commuter Tax Credit

publications, and Maryland Tax Regulations, visit at:

• Electric Vehicle Recharging Equipment Tax Credit

• Employer-Provided Long-Term Care Insurance Tax

E-mail your tax questions to: taxhelp@comp.state.md.us

Credit

For assistance, call: 410-260-7980 in Central Maryland, or

• Employment Opportunity Tax Credit

1-800-MDTAXES (638-2937) from elsewhere

• Enterprise Zone Tax Credit

Formas en Español

• Film Production Employment Tax Credit

Visite nuestro sitio Web en para

• Green Building Tax Credit

obtener formas e instrucciones en Español.

• Job Creation Tax Credit

• Long-Term Employment of Qualified Ex-Felons Tax

Credit

• Maryland Disability Employment Tax Credit

• Maryland-Mined Coal Tax Credit

• One Maryland Economic Development Tax Credit

• Research and Development Tax Credits

• Telecommunications Property Tax Credit

• Work-Based Learning Program Tax Credit

• Job Creation and Recovery Tax Credit

Instructions For Form 500 - Maryland Corporation Income Tax Return - 2011 Page 2

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