§ 10–104
Statutes in effect as of October 1, 2026.
Md. Code Ann., Tax-Gen. § 10-104 (2026)
Title 10. Income Tax
Subtitle 1. Definitions; General Provisions
§ 10–104LinkCopy Citation
The income tax does not apply to the income of:
(1)
a common trust fund, as defined in § 3–501(b) of the Financial Institutions Article;
(2)
except as provided in §§ 10–101(e)(3) of this subtitle and 10–304(2) of this title, an organization that is exempt from taxation under § 408(e)(1) or § 501 of the Internal Revenue Code;
(3)
a financial institution that is subject to the financial institution franchise tax;
(4)
a person subject to taxation under Title 6 of the Insurance Article;
(5)
except as provided in § 10–102.1 of this subtitle, a partnership, as defined in § 761 of the Internal Revenue Code;
(6)
except as provided in § 10–102.1 of this subtitle and § 10–304(3) of this title, an S corporation;
(7)
except as provided in § 10–304(4) of this title, an investment conduit or a special exempt entity; or
(8)
except as provided in § 10–102.1 of this subtitle, a limited liability company as defined under Title 4A of the Corporations and Associations Article to the extent that the company is taxable as a partnership, as defined in § 761 of the Internal Revenue Code.