WILLIAM DONALD SCHAEFER, Governor Ch. 178

(9) § 10-207(P) OF THIS SUBTITLE DERIVED FROM REAL OR
TANGIBLE PERSONAL PROPERTY LOCATED IN THE STATE (NET CAPITAL
GAIN);

(10) § 10-207(S) OF THIS SUBTITLE (REFORESTATION AND
TIMBER STAND EXPENSE);

(11) § 10-207(W) OF THIS SUBTITLE (STATE TAX EXEMPT

INCOME);

(12) § 10-207(X) OF THIS SUBTITLE (VOLUNTEER TRAVEL
EXPENSES); AND

(13) § 10-207(Y) OF THIS SUBTITLE (WAGE EXPENSES FOR
TARGETED JOBS).

10-401.

[In computing the adjustment under § 10-207(q) of this
title, a] A nonresident shall allocate to the State income
derived in connection with a business, occupation, profession, or
trade carried on both in and out of the State OF WHICH THE
NONRESIDENT IS A PARTNER, SHAREHOLDER OF AN S CORPORATION, OR
PROPRIETOR by:

(1) separate accounting, if the Comptroller allows;
or

(2) the method of that the Comptroller requires to

determine fairly the part of the income derived from or

reasonably attributable to the trade, business, profession, or
occupation carried on in the State.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 10-204 of Article - Tax - General of
the Annotated Code of Maryland be renumbered to be Section(s)
10-203 to be under the existing part "Part II. Maryland Adjusted
Gross Income".

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:

Article - Tax - General

[10-205.] 10-204.

(a) To the extent excluded from federal adjusted gross

income, the amounts under this section are added to the federal

adjusted gross income of [an individual] A RESIDENT to determine
Maryland adjusted gross income.

- 1999 -