{"data":{"id":"us-md/md.-code-tax-general-10-304","jurisdiction":"us-md","citation":"Md. Code, Tax - General § 10–304","heading":"","body":"Except as provided in Subtitle 4 of this title, the Maryland modified income of a corporation, including a real estate investment trust or regulated investment company, is:\n(1) the corporation’s federal taxable income for the taxable year as determined under the Internal Revenue Code and as adjusted under this Part II of this subtitle;\n(2) if the corporation is exempt from taxation under § 501 of the Internal Revenue Code, the sum for the taxable year of the corporation’s unrelated business taxable income, as defined under § 512 of the Internal Revenue Code, and its income that is subject to tax under § 527(f)(1) of the Internal Revenue Code, as adjusted under this Part II of this subtitle;\n(3) if the corporation is an S corporation, its income that is subject to federal income tax, for the taxable year, as adjusted under this Part II of this subtitle; or\n(4) if the corporation is an investment conduit or a special exempt entity, the applicable tax base of the corporation as adjusted under this Part II of this subtitle.","path":["Article - Tax - General"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gtg\u0026section=10-304","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:01:18Z","sha256":"35125f265a8c7a73ae28c9aeff4b80eb3fab920cc2945bb594313e3b01f86cdc","source_id":"us-md","stale":false,"prev":"us-md/md.-code-tax-general-10-301","next":"us-md/md.-code-tax-general-10-305"},"notice":"GroundRules: Original legal text. Not legal advice."}