Form 510 - Maryland Pass-Through Entity Income Tax Return - 2012 Page 9
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13MARYLANd
2012
FORM
510
PASS-THROUGH ENTITY
INCOME TAX RETURN INSTRUCTIONS
provision for securing information from
first filing of the PTE; (3) this is an
The distributive share of income for
taxpayers that fail to supply required
inactive PTE (in Maryland and elsewhere);
partnerships is the net amount of lines 1
information, and a penalty may apply.
(4) this is the final return of a PTE that
through 11 of federal Form 1065 -
has dissolved, liquidated or withdrawn
Schedule K. The
distributive share of
Taxpayers have a right to access their
from Maryland; or (5) this tax year’s
income for a partnership electing to file
tax records maintained by the Revenue
beginning or ending dates are different
as a “large partnership”
is the net
Administration Division, and may inspect,
from last year’s because of an acquisition
amount derived from adding lines 1a, 2
amend or other wise correct them. To
or consolidation. Do not check the box
through 4b, 7, and 8 of federal Form
obtain a copy of such tax records, submit
for inactive or final if the PTE is inactive
1065-B-Schedule K. The pro rata share
a written request containing the PTE
of income for S corporations is the net
name, address and identification numbers
ALLOCATION OF INCOME
amount of lines 1 through 10 of federal
and specifying the information needed.
Form 1120S - Schedule K.
For unistate PTEs, all income is alloca-
The request must be signed by an
ble to Maryland. If the entity is unistate,
authorized member.
L i n e
3 a
-
N o n - M a r y l a n d
meaning that business is conducted only
income
Multistate partnerships with
As authorized by law, information
in Maryland, do not complete this area.
one or more nonresident partners may
furnished to the Revenue Administration
Multistate PTEs, those conducting busi-
use separate accounting to allocate
Division may be given to the IRS, a
ness in more than one state, must allo-
income. Multistate S corporations with
proper official of any state that exchanges
cate income if any member is a nonresi-
one or more nonresident shareholders
tax information with Maryland and to an
dent individual or a nonresident entity. If
may use separate account ing if the
there are no nonresident members, do
officer of this State having a right to the
activity of the corporation within
not complete this area.
information in that officer’s capacity.
Maryland is nonunitary. If using separate
Also, the information may be obtained in
accounting, enter the amount of income
accordance with a proper judicial or
in Maryland but active elsewhere.
or loss allocable to other states and
legislative order.
If this is an amended return, check the
attach a worksheet detailing the alloca-
applicable box and draw a line through
tion between or among the states.
SPECIFIC INSTRUCTIONS
any barcode on the front of the return.
Line 3b - Maryland apportionment
SPECIAL NOTE: Complete the federal
Tax Year or Period
The tax year is
factor Multistate partnerships with one
income tax return first and use it in
shown at the top of Form 510. The form
or more nonresident partners may elect
preparation of the Maryland return. Use
used for filing must reflect the preprinted
the apportionment method of allocation.
a minus sign (-) in front of a number to
tax year in which the PTE’s tax year
Multistate S corporations with one or
indicate a negative amount. After
begins. The same tax year or period
more nonresident shareholders must use
completing
the
Maryland
return,
used for the federal return must be used
the apportionment method unless the
assemble your return in the following
for Form 510.
activity of the corporation within
order: Maryland Pass-Through Entity
Maryland is nonunitary. If using the
If the tax year of the PTE is other than a
Form 510 including all Form 510
a p p o r t i o n m e n t
m e t h o d ,
s e e
t h e
calendar year, enter the beginning and
Schedules B, any required Maryland
i n s t r u c t i o n s
f o r
c o m p u t a t i o n
o f
ending dates of the fiscal year in the
forms and their related attachments, any
apportionment factor on page 6 and
space provided at the top of Form 510.
K-1 forms showing credits earned by the
enter the apportionment factor as
Line 1 - Number of members Enter
PTE and for S corporations a copy of the
calculated on page 2 of Form 510.
the number of members that are
federal income tax return through
Line 4 - distributive or pro rata share
individual residents of Maryland (including
Schedule M2.
of income allocable to Maryland For
resident fiduciaries), the number that are
N a m e ,
A d d r e s s
a n d
O t h e r
unistate PTEs, or multistate PTEs without
individual nonresidents of Maryland
Information
nonresident members, enter the amount
(including nonresident fiduciaries), the
shown on line 2.
Type or print the required information in
number of nonresident entities, the
the designated area. Enter the exact PTE
number of other entities and the total
For multistate PTEs using separate
name and continue with any “Trading As”
number of all members.
accounting, subtract line 3a from line 2
(T/A) name if applicable.
and enter the difference. For multistate
Include in “Others” entities that are tax-
PTEs using the apportionment method of
Enter the federal employer identification
exempt under IRC Sections 408(e) or
allocation, multiply line 2 by the factor
number (FEIN). If a FEIN has not been
501.
on line 3b and enter the result.
secured, enter “APPLIED FOR” followed
A single member LLC that is a disregarded
by the date of application. If a FEIN has
NOTE: do not complete lines 5
entity for federal purposes is treated as
not been applied for, do so immediately.
through 19:
an individual or corporation depending
Enter the date of organization or
upon whether the single member is an
1. unless the PTE has members that
incorporation and the federal business
individual or corporation for purposes of
are nonresidents of Maryland (there is an
code number. This date must be
computing the nonresident tax.
entry in 1b or 1c), or
expressed numerically, using two digits
Note: In these instructions, the term
2. if the PTE is a partnership whose
each for the month, the day and the
individual includes fiduciaries, unless
activities and assets are limited to
year. The federal business code is a six-
specifically excepted.
investment in stocks, bonds, futures,
digit number available from the federal
options or debt obligations other than
Line 2 - Total distributive or pro rata
return which identifies the principal
debt instruments directly secured by real
shares
of
income
per
federal
business activity.
or tangible personal property. It is not
return Enter the distributive or pro rata
Be sure to check the applicable box to
subject to the nonresident tax merely
share of income from the federal return.
indicate the type of PTE: partnership, S
because the investment decisions,
Distributive or pro rata share of income
corporation, limited liability company or
trading orders, research and the like are
is defined for this purpose as the net
business trust.
conducted by a general partner from a
amount of income/loss for the PTE, less
Maryland location. Enter 705 in one of
Check the applicable box if: (1) the name
interest from federal obligations.
the code number boxes at the bottom of
or address has changed; (2) this is the
3
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