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Maryland Declaration of Estimated Corporation Income Tax
Extracted from PDF file 2023-maryland-form-500d.pdf, last modified November 2018Declaration of Estimated Corporation Income Tax
MARYLAND FORM 500D 2023 CORPORATION DECLARATION OF ESTIMATED INCOME TAX OR FISCAL YEAR BEGINNING 2023, ENDING Federal Employer Identification Number (9 digits) Print Using Blue or Black Ink Only Name Current Mailing Address (PO Box, number, street and apt. no) Current Mailing Address Line 2 (Apt No., Suite No., Floor No.) City or Town State Foreign Country Name ZIP Code + 4 Foreign Province/State/County Foreign Postal Code STAPLE CHECK HERE For Office Use Only ME YE EC EC USE THIS FORM TO REMIT ANY ESTIMATED PAYMENT DUE AT THIS TIME. IF FORMS ARE NEEDED TO MAKE ADDITIONAL INSTALLMENTS OF THE CURRENT TAX YEAR, SEE THE INSTRUCTIONS FOR MORE INFORMATION. IMPORTANT: Review the instructions before completing this form. If you are using this form for subsequent estimated payments, you do not need to complete this worksheet if you previously have calculated the amount you need to pay each quarter. Check here if you are a first time filer or your mailing address has changed. ESTIMATED TAX WORKSHEET 1. Taxable income expected for the tax year or period BEGINNING in 2023 . . . . . . . . . . . . . . . . . . . 1. 2. Estimated income tax due for the year (8.25% of line 1, reduced by any tax credits). . . . . . . . . . . 2. 3. Estimated tax due per quarter (line 2 divided by four) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. Estimated tax paid for 2023 with this declaration.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Make checks payable to and mail to: Comptroller Of Maryland Revenue Administration Division 110 Carroll Street Annapolis, Maryland 21411-0001 (Write Your FEIN On Check Using Blue Or Black Ink.) COM/RAD-002 $ .00 .00 .00 .00 MARYLAND FORM 500D Purpose of Form Form 500D is used by a corporation to declare and remit estimated income tax. Corporations expected to be subject to estimated tax requirements should use Form 500D to remit any payment due. NOTE: Do not use this form to remit estimated tax for Form 510 or to remit employer withholding tax. General Requirements Every corporation that reasonably expects its Maryland taxable income to develop a tax in excess of $1,000 for the tax year or period must make estimated income tax payments. The total estimated tax payments for the year must be at least 90% of the tax developed for the current year or 110% of the tax that was developed for the prior year to avoid interest and/or penalty. At least 25% of the total estimated tax must be remitted by each of the installment due dates. The annualization method for calculating estimated tax is not permitted for corporations. In the case of a short tax period, the total estimated tax payment required is the same as for a regular tax year: 90% of the tax developed for the current (short) tax year or 110% of the tax that was developed for the prior tax year. The minimum estimated tax for each of the installment due dates is the total estimated tax required divided by the number of installment due dates occurring during the short tax year. However, if the corporation has a short tax period of less than 4 months, it does not have to pay estimated tax nor file Form 500D. Maryland law provides for the accrual of interest and imposition of penalty for failure to pay any tax when due. If it is necessary to amend the estimate, recalculate the amount of estimated tax required using the estimated tax worksheet provided. Adjust the amount of the next installment to reflect any previous underpayment or overpayment. The remaining installments must be at least 25% of the amended estimated tax due for the year. Consolidated returns are not allowed under Maryland law. Affiliated corporations that file a consolidated federal return must file separate Maryland declarations for each member corporation. When to File File Form 500D on or before the 15th day of the 4th, 6th, 9th and 12th months following the beginning of the tax year or period. In addition to payments with Form 500D, the corporation may partially or fully apply any overpayment from the prior year Form 500 – Maryland Corporation Income Tax Return to the estimated tax obligation for this year. Tax Year or Period Enter the beginning and ending dates of the tax year in the space provided. The same tax year or period used for the federal return must be used for Form 500D. Name, Address and Other Information Type or print the required information in the designated area. Enter the name exactly as specified in the Articles of Incorporation, or as amended, and continue with any “Trading As” (T/A) name if applicable. COM/RAD-002 2023 CORPORATION DECLARATION OF ESTIMATED INCOME TAX INSTRUCTIONS Enter the Federal Employer Identification Number (FEIN). If the FEIN has not been secured, enter “APPLIED FOR” followed by the date of application. If a FEIN has not been applied for, do so immediately. Payment Instructions Enter the amount of estimated tax paid in the space provided. Include a check or money order made payable to Comptroller of Maryland. All payments must indicate the FEIN, type of tax and tax year beginning and ending dates. DO NOT SEND CASH. You may pay your estimated tax using one of the following methods: 1) Electronic Funds Transfer Taxpayers must register before using this method. To obtain a registration form, visit www.marylandtaxes.gov or call 410-260-7980. If payment is made by electronic funds transfer, do not mail Form 500D; retain it with the company’s records. 2) Filing Electronically Taypayers may file using the Modernized Electronic Filing method (software provider must be approved by the IRS and Revenue Administration Division). If filed electronically, do not mail Form 500D; retain it with the company’s records. Taxpayers making payments of $10,000 or more must use one of these two electronic methods. If you need to make additional payments for the current tax year, you may file electronically, or visit www.marylandtaxes. gov and download another Form 500D. 3) Mailing Instructions Write your Federal Employer Identification Number on check using blue or black ink. Mail payment and completed Form 500D to: Comptroller of Maryland Revenue Administration Division 110 Carroll Street Annapolis, MD 21411-0001
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More about the Maryland Form 500D Corporate Income Tax Estimated TY 2023
Form 500D is used by a corporation to declare and remit estimated income tax. Corporations expected to be subject to estimated tax requirements should use Form 500D to remit any payment due. NOTE: Do not use this form to remit estimated tax for Form 510 or to remit employer withholding tax.
We last updated the Declaration of Estimated Corporation Income Tax in February 2024, so this is the latest version of Form 500D, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 500D directly from TaxFormFinder. You can print other Maryland tax forms here.
Related Maryland Corporate Income Tax Forms:
TaxFormFinder has an additional 41 Maryland income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Maryland Form 500D.
| Form Code | Form Name |
|---|---|
| Form 500DM | Decoupling Modification |
View all 42 Maryland Income Tax Forms
Form Sources:
Maryland usually releases forms for the current tax year between January and April. We last updated Maryland Form 500D from the Comptroller of Maryland in February 2024.
Form 500D is a Maryland Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Maryland Form 500D
We have a total of nine past-year versions of Form 500D in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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