Section 10-812 - Corporation return - Exempt corporations. - Maryland Statutes

§ 10-812. Corporation return - Exempt corporations.
 

(a)  Income tax return.- A corporation exempt from income tax under § 10-104 of this title shall file an income tax return if the corporation: 

(1) has unrelated business taxable income, as defined under § 512 of the Internal Revenue Code; 

(2) is exempt from taxation under § 501(c)(2) of the Internal Revenue Code; or 

(3) is an S corporation that is incorporated or does business in the State. 

(b)  Refund.- An organization that is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code may file an income tax return to claim a refund under § 10-714 of this title. 
 

[An. Code 1957, art. 81, § 295; 1988, ch. 2, § 1; ch. 135, § 1; 2001, ch. 729.]