Ch. 262

1993 LAWS OF MARYLAND

(3) THE ADDITION REQUIRED UNDER PARAGRAPH (2) OF THIS SUBSECTION
DOES NOT APPLY IF THERE ARE NO REMAINDERMEN OF THE TRUST IN BEING.

10-207.

(p) (1) IN THIS SUBSECTION, "REMAINDERMAN REMAINDERMEN"
INCLUDES A PERSON WHOSE REMAINDER INTEREST IS VESTED, CONTINGENT, OR
VESTED SUBJECT TO DIVESTMENT.

(2)      The subtraction under subsection (a) of this section includes:

(I)      income derived from intangible personal property that is held[, in
the State,] in trust for the benefit of a nonresident or a corporation not doing business in
the State; AND

(II)     TO THE EXTENT NOT INCLUDED UNDER ITEM (I) OF THIS
PARAGRAPH, CAPITAL GAIN INCOME DERIVED FROM THE SALE OR OTHER
DISPOSITION OF INTANGIBLE PERSONAL PROPERTY THAT IS HELD IN TRUST, IF THE
INCOME IS ADDED TO CORPUS FOR THE BENEFIT OF POTENTIAL REMAINDERMEN,
EACH OF WHOM IS: PROCEEDS THEREOF ARE ADDED TO THE PRINCIPAL OF THE
TRUST, AND IF ALL THE REMAINDERMEN IN BEING ARE:

1.       A NONRESIDENT NONRESIDENTS DURING THE ENTIRE
TAXABLE YEAR; OR

2.       A CORPORATION CORPORATIONS NOT DOING BUSINESS
IN THE STATE; OR.

3. IN BEING.

(3) THE SUBTRACTION ALLOWED UNDER PARAGRAPH (2)(II) OF THIS
SUBSECTION DOES NOT APPLY IF THERE ARE NO REMAINDERMEN OF THE TRUST IN-
BEING.

10-703.

(a)     Except as provided in subsection (b) of this section[,]:

(1) a resident OTHER THAN A FIDUCIARY may claim a credit only against
the State income tax for a taxable year in the amount determined under subsection (c) of
this section for State tax on income paid to another state for the year; AND

(2)     A RESIDENT FIDUCIARY MAY CLAIM A CREDIT AGAINST THE STATE
INCOME TAX FOR A TAXABLE YEAR IN THE AMOUNT DETERMINED UNDER
SUBSECTION (D) OF THIS SECTION FOR STATE TAX ON INCOME PAID TO ANOTHER
STATE FOR THE YEAR.

(b)     A credit under subsection (a) of this section is not allowed to:

(1)     a resident OTHER THAN A FIDUCIARY, if the laws of the other state
allow the resident a credit for State income tax paid to this State;

(2)      A RESIDENT FIDUCIARY, IF THE FIDUCIARY CLAIMS, AND THE
OTHER STATE ALLOWS, A CREDIT FOR STATE INCOME TAX PAID TO THIS STATE;

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