Maryland § 10-104
Full text of Maryland Maryland Code § 10-104, with citation guidance and answers to common questions.
§ 10-104.
The income tax does not apply to the income of:
(1) a common trust fund, as defined in § 3–501(b) of the Financial Institutions Article;
(2) except as provided in §§ 10–101(e)(3) of this subtitle and 10–304(2) of this title, an organization that is exempt from taxation under § 408(e)(1) or § 501 of the Internal Revenue Code;
(3) a financial institution that is subject to the financial institution franchise tax;
(4) a person subject to taxation under Title 6 of the Insurance Article;
(5) except as provided in § 10–102.1 of this subtitle, a partnership, as defined in § 761 of the Internal Revenue Code;
(6) except as provided in § 10–102.1 of this subtitle and § 10–304(3) of this title, an S corporation;
(7) except as provided in § 10–304(4) of this title, an investment conduit or a special exempt entity; or
(8) except as provided in § 10–102.1 of this subtitle, a limited liability company as defined under Title 4A of the Corporations and Associations Article to the extent that the company is taxable as a partnership, as defined in § 761 of the Internal Revenue Code.
Frequently Asked Questions About Maryland § 10-104
What does Maryland Code § 10-104 cover?
Section 10-104 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 10-104?
A common citation format is "Maryland Code § 10-104" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-104 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.