WILLIAM DONALD SCHAEFER, Governor Ch. 716

Section 287

Annotated Code of Maryland

(1980 Replacement Volume and 1986 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 81 - Revenue and Taxes

287.

A nonresident individual shall be taxable in this State on
that portion of his federal adjusted gross income as is derived
from tangible property, real or personal, permanently located in
this State (whether received directly or from a fiduciary) and
income from business, trade, profession or occupation carried on
in this State, and income from State lottery prizes AND OTHER
GAMBLING WINNINGS DERIVED IN THIS STATE shall be taxable in this
State; provided, however, that income derived from intangible
personal property held by a resident or by a domestic corporation
as fiduciary, guardian, committee or trustee for an incompetent,
or as agent for a nonresident principal (unless such property is
used in connection with the trade, business, profession or
occupation of such principal) shall not be taxable in this State.
The proper apportionment of income derived in connection with
trade, business, profession or occupation carried on within and
without the State shall be determined under the rules and
regulations of the Comptroller. Such nonresident individual shall
complete a schedule reconciling income attributable to Maryland
sources to the federal adjusted gross income and deductions shown
on his federal income tax return.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1987 and shall apply to taxable years
beginning after December 31, 1986.

Approved June 2, 1987.

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