Maryland Tax - General Section 10-306

CAUTION: READ FULL TEXT OF SECTION FOR SPECIAL NOTE

      (a)      In addition to the modification under § 10-305 of this subtitle, the amounts under this section are added to the federal taxable income of a corporation to determine Maryland modified income.

      (b)      The addition under subsection (a) of this section includes the additions required for an individual under:

            (1)      § 10-205(b) of this title (Enterprise zone wage credit, employment opportunity credit, and disability credit);

            (2)      § 10-205(c) of this title (Reforestation and timber stand modification);

            (3)      § 10-205(e) of this title (Net operating loss modification);

            (4)      § 10-205(g) of this title (Unlicensed child care facility operating expenses); and

            (5)      § 10-205(i) of this title (Maryland research and development tax credit).

      (c)      The addition under subsection (a) of this section includes the amount of the credit allowed under § 10-708 of this title for property taxes paid on operating real property by a public utility that is a telecommunications company, determined without regard to the limitation under § 10-708(b) of this title.

      (d)      The addition under subsection (a) of this section includes the amount of the credit allowed under § 10-712 of this title for property taxes paid by a public utility on operating real property that is used to generate electricity or steam for sale.

      (e)      The addition under subsection (a) of this section includes the amount of the credit allowed under § 10-713 of this title for wages paid to employees at a qualified corporate headquarters of a public service company.

// SPECIAL NOTE: THE ABOVE SECTION WAS CHANGED BY CHAPTER 454 OF 2003 AND WILL REMAIN IN EFFECT UNTIL JUNE 30, 2006 //

      (a)      In addition to the modification under § 10-305 of this subtitle, the amounts under this section are added to the federal taxable income of a corporation to determine Maryland modified income.

      (b)      The addition under subsection (a) of this section includes the additions required for an individual under:

            (1)      § 10-205(b) of this title (Enterprise zone wage credit);

            (2)      § 10-205(c) of this title (Reforestation and timber stand modification);

            (3)      § 10-205(e) of this title (Net operating loss modification);

            (4)      § 10-205(g) of this title (Unlicensed child care facility operating expenses); and

            (5)      § 10-205(i) of this title (Maryland research and development tax credit).

      (c)      The addition under subsection (a) of this section includes the amount of the credit allowed under § 10-708 of this title for property taxes paid on operating real property by a public utility that is a telecommunications company, determined without regard to the limitation under § 10-708(b) of this title.

      (d)      The addition under subsection (a) of this section includes the amount of the credit allowed under § 10-712 of this title for property taxes paid by a public utility on operating real property that is used to generate electricity or steam for sale.

      (e)      The addition under subsection (a) of this section includes the amount of the credit allowed under § 10-713 of this title for wages paid to employees at a qualified corporate headquarters of a public service company.