Ch. 2                                    LAWS OF MARYLAND

THE ADDITION UNDER SUBSECTION (A) OF THIS SECTION INCLUDES
ANY TAXES BASED ON NET INCOME THAT ARE IMPOSED BY ANY STATE OR BY
A POLITICAL SUBDIVISION OF ANY STATE.

(D) MISCELLANEOUS ADDBACKS.

THE ADDITION UNDER SUBSECTION (A) OF THIS SECTION INCLUDES
THE ADDITIONS REQUIRED FOR AN INDIVIDUAL UNDER:

(1)  § 10-205(B) OF THIS TITLE [DIVIDENDS AND INTEREST
FROM ANOTHER STATE OR LOCAL OBLIGATION];

(2)  § 10-205(C)(2) OF THIS TITLE [FEDERAL TAX EXEMPT
INCOME]; AND

(3)  § 10-205(E) OF THIS TITLE [OIL PERCENTAGE
DEPLETION ALLOWANCE].

REVISOR'S NOTE: Subsections (a) through (c) of this section
are new language derived without substantive change
from former Art. 81, § 280A(b)(l) and (2).

Subsection (d) of this section is new language
substituted for former Art. 81, § 280A(b)(3) through
(5), which stated for corporations addbacks that are
identical to those required for individuals under the
referenced provisions of § 10-205 of this title.

The introductory language of subsection (a) of this
section, "[t]o the extent excluded from federal
taxable income", is added to clarify that only amounts
excluded from computations for federal taxable income
tax purposes are to be added under this section.

In subsection (a) of this section, the word "federal"
is added to modify "taxable income", for clarity.

Also in subsection (a) of this section, the phrase "to
determine Maryland modified income" is added to state
expressly that which only was implied in the former
law -- i.e., the purpose of the modification.

Also in subsection (a) of this section, the word
"corporation" is substituted for the former word
"taxpayer", for clarity.

In subsection (c) of this section, the reference to
"taxes based on net income" is substituted for the
former reference to "[n]et income taxes, and all other
net taxes based on income", for clarity and brevity.

Also in subsection (c) of this section, the defined
term "state" is substituted for the former references
to the "State of Maryland", "any other state", and the
"District of Columbia", for clarity.

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