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§ 8-206. Allocation of net earnings

West's Annotated Code of MarylandTax-General

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 8. Franchise Taxes (Refs & Annos)
Subtitle 2. Financial Institution Franchise Tax (Refs & Annos)
MD Code, Tax - General, § 8-206
§ 8-206. Allocation of net earnings
Currentness
In general
(a) In computing taxable net earnings, a financial institution with net earnings derived outside the State shall allocate its net earnings, in the manner that the Department requires, based on the gross volume of the transactions of the financial institution inside and outside the State.
Interest from holding company
(b) In computing taxable net earnings, a financial institution shall include only that part of interest derived from the trade or business, in this State, of the subsidiaries of the financial institution, if the financial institution is a holding company because its only activities are to:
(1) maintain and manage intangible investments; and
(2) collect and distribute income from intangible investments.

Credits

Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989.
Formerly Art. 81, § 128A.
MD Code, Tax - General, § 8-206, MD TAX GENERAL § 8-206
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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