2480

LAWS OF MARYLAND

Ch. 658

(1)  BE SUBJECT TO ALL THE FEES IMPOSED ON A SIMILAR
NONRESIDENT BUSINESS IN THE STATE OF INCORPORATION OR THE STATE
WHERE THE CENTRAL OFFICES ARE LOCATED; AND

(2)  IN LIEU OF THE FEES REQUIRED UNDER SUBSECTION (A)
OF THIS SECTION, PAY THE FEES IMPOSED ON A SIMILAR NONRESIDENT
BUSINESS IN THE STATE OF INCORPORATION OR THE STATE WHERE THE
CENTRAL OFFICES ARE LOCATED.

536A.

IF THE FEE IN THE STATE OF THE NONRESIDENT IS HIGHER THAN
THE FEE IN THIS STATE, IN LIEU OF THE FEES REQUIRED UNDER § 536
OR § 540A OF THIS ARTICLE, A NONRESIDENT PERSON, FIRM, OR
CORPORATION WHICH IS INCORPORATED IN OR HAS CENTRAL OFFICES
LOCATED IN A STATE OTHER THAN THIS STATE SHALL PAY THE FEES
IMPOSED ON A SIMILAR NONRESIDENT BUSINESS IN THE STATE OF
INCORPORATION OR THE STATE WHERE THE CENTRAL OFFICES ARE LOCATED.

540A.

IF THE FEE FOR A MASTER ELECTRICAL LICENSE IN THE STATE OF A
NONRESIDENT LICENSEE IS GREATER THAN THE FEE IN THE COUNTY IN
WHICH A RESIDENT IS INCORPORATED, HAS CENTRAL OFFICES, OR IS
LOCATED, THE NONRESIDENT LICENSEE SHALL PAY A FEE NOT LESS THAN
THE COUNTY FEE.

Article 81 - Revenue and Taxes

280A.

(a)  The net income of a corporation shall be the taxable
income of such taxpayer as defined in the laws of the United
States as amended from time to time and for the corresponding
taxable period and in the case of a corporation exempt from
taxation under § 501(c) of the Internal Revenue Code, the
unrelated business taxable income of such taxpayer as defined in
the laws of the United States as amended from time to time and
for the corresponding taxable period or in the case of a
regulated investment company, investment company taxable income
as defined in the laws of the United States as amended from time
to time and for the corresponding taxable period, except as
hereinafter modified.

(b)  There shall be added to the taxable income of such
taxpayer: (1) net income taxes, and all other net taxes based on
income, imposed by the State of Maryland, and any other state,
the District of Columbia and any political subdivision of the
State of Maryland or any other state; (2) the net capital loss
carry-back as defined in § 1212 of the Internal Revenue Code, as
amended from time to time; (3) for all taxable years beginning
after December 31, 1973, the oil percentage depletion allowance
as claimed and allowed under § 613 of the Internal Revenue Code;
(4) interest or dividends, (less related expenses), on
obligations or securities of any state or of a political