Form 510 - Maryland Pass-Through Entity Income Tax Return - 2012 Page 10
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13MARYLANd
2012
FORM
510
PASS-THROUGH ENTITY
INCOME TAX RETURN INSTRUCTIONS
Form 510.
flow limitation will not reduce the
the result. The total amount due must be
tax liability of the nonresident
paid with Form 510.
Partnerships, however, such as brokerage
members.
firms that deal with the general public,
Continue to Line 20 only when there
are not exempt if the business is
If the distributable cash flow limitation is
are no nonresident members (lines 1b
conducted within Maryland and should
used, check the box and enter the result
and 1c are both zero).
complete lines 5-19. See Administrative
on line 14. If less than zero, enter zero.
L i n e
2 0
-
A m o u n t
t o
b e
Release 6.
If the distributable cash flow limitation is
Refunded Enter the amount from line
not used, do not complete this line.
Line 5 - Percentage of ownership by
16d if the amount on line 13 is zero.
nonresident individual members Enter
Line 15 - Nonresident tax due If the
NOTE: Overpayments will not be
the total percentage of ownership by
distributable cash flow limitation is not
refunded to any PTE that has any
nonresident individual members. If the
used, enter the amount shown on line
members
that
are
nonresident
profit/loss allocation is different from the
13. If the distributable cash flow method
individuals or nonresident entities.
ownership percentage, use the profit/loss
is used, enter the lesser of line 13 or line
allocation to complete this line. If 100%
14.
Signature
and
Verification
An
leave blank.
authorized general partner, officer or
Line 16 - Payments and Credits
member of the PTE must sign and date
Line 6 - distributive or pro rata share
16a. Enter the total of amounts paid
Form 510 and enter his or her title. If a
of income for nonresident individual
during the tax year with Form 510D
preparer is used, the preparer must also
members
Multiply line 4 by the
- Maryland Pass-Through Entity
sign the return and enter the firm name,
percentage on line 5 and enter the result.
Declaration of Estimated Income
address and Preparer's Tax Identification
If line 5 is blank because the percentage
Tax. Also include amounts paid by
Number (PTIN). Penalties may be
of ownership equals 100%, enter the
the PTE using Form MW506NRS -
imposed for tax preparers who fail to
amount from line 4.
Return of Income Tax Withheld For
sign the tax return and provide their
Line 7 - Nonresident individual
Nonresident Sale of Real Property.
PTIN.
tax
Multiply the amount on line 6 by
16b. Enter the amount paid with Form
M a i l i n g
I n s t r u c t i o n s
M a i l
t h e
5.75%.
510E - Maryland Application for
completed return and all required
Lin e
8
-
S pec ial
n on residen t
Extension to File Pass-Through
attachments to: Comptroller of Maryland,
tax
Multiply the amount on line 6 by
Entity Income Tax Return.
Revenue Administration Division, 110
1.25%. All nonresident individuals are
Carroll Street, Annapolis, MD 21411-
16c. Enter the amount of nonresident
liable for an additional state tax on
0001
tax paid on the PTE’s behalf by
income allocable to Maryland calculated
another PTE. Attach the Maryland
at the lowest local income tax rate in
Schedule K-1 or statement supplied
place for the tax year.
by the other PTE to support this
Line 9 - Total Maryland tax on
credit.
individual members Add lines 7 and
16d. Total payments and credits.
8.
Enter the sum of lines 16a through
Line 10 - Percentage of ownership by
16c.
nonresident entity members Enter the
Line 17 - Balance of Tax due Enter
total percentage of ownership by
the difference if line 15 exceeds 16d.
nonresident entity members. If the
profit/loss allocation is different from the
Line 18 - Interest and/or Penalty
ownership percentage, use the profit/loss
Calculate the amount of interest and/or
allocation to complete this line. If 100%
penalty
due
as
a
result
of
the
leave blank.
underpayment of estimated tax. Use
Line 11 - distributive or pro rata
Form 500UP.
share of income
for nonresident
Partnerships and LLCs with income
entity members Multiply line 4 by the
received unevenly throughout the year,
percentage on line 10 and enter the
and that choose to annualize on Form
result. If line 10 is blank because the
500UP, must enter 301 in one of the
percentage of ownership equals 100%,
code number boxes at the bottom of
enter the amount from line 4.
page 1, Form 510. S corporations may
Line
12
-
Nonresident
entity
not use the annualization method on
tax Multiply the amount on line 11 by
Form
500UP,
available
at
www.
8.25%.
Line 13 - Total nonresident tax Add
If Form 510 is filed late, calculate interest
lines 9 and 12.
on the amount of tax that was not paid
by the original due date. Interest is due
Line 14 - distributable cash flow
at an annual rate of 13% or 1.08% per
limitation
PTEs may elect to use the
month or part of a month that tax is paid
distributable cash flow method to limit
after the due date of the return.
the nonresident tax which must be paid
by the PTE. If the distributable cash flow
A penalty may be imposed if any tax is
is less than the nonresident tax, the
not paid when due. Any penalty due will
required payment is limited to the
be calculated and assessed after filing of
amount determined by the distributable
Form 510.
cash flow method.
Line 19 - Total Balance due Add the
Election of the distributable cash
amounts on lines 17 and 18 and enter
4
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