Maryland Comptroller Releases Draft Form 510, Pass-Through Entity Income Tax Return, With Instructions

The Maryland Comptroller June 21 released a draft of Form 510, Pass-through Entity Income Tax Return, with instructions for individual income and corporate income tax purposes. The returns and related forms are to be used by partnerships, S corporations, limited liability companies, and business trusts. The return is an information return because the entity’s income or loss is passed through to the separate members. The return must be filed electronically if the pass-through entity has generated a business tax credit from Form 500CR or a Heritage Structure Rehabilitation Tax Credit. The instructions include information on: 1) entities who are and ...