Maryland § 10-308 - IN EFFECT
Full text of Maryland Maryland Code § 10-308 — IN EFFECT, with citation guidance and answers to common questions.
§ 10-308. IN EFFECT
IN EFFECT
(a) In addition to the modification under § 10–307 of this subtitle, the amounts under this section are subtracted from the federal taxable income of a corporation to determine Maryland modified income.
(b) The subtraction under subsection (a) of this section includes the amounts allowed to be subtracted for an individual under:
(1) § 10–208(d) of this title (Enhanced agricultural management equipment expenses);
(2) § 10–208(i) of this title (Reforestation or timber stand expenses);
(3) § 10–208(k) of this title (Wage expenses for targeted jobs);
(4) § 10–208(p) of this title (Elevator handrails in health care facilities);
(5) § 10–208(z) of this title (Donations to diaper banks and other charitable entities); and
(6) § 10–208(bb) of this title (Trade or business expenses of a licensed or registered cannabis grower, processor, dispensary, or any other cannabis establishment).
(c) In the case of a regulated investment company, the subtraction under subsection (a) of this section includes an amount equal to the exempt–interest dividends paid by the company that are attributable to amounts received by the company that are included in the addition modification for dividends and interest from state or local obligations of another state under § 10–305(d)(1) of this subtitle.
§10–308. // EFFECTIVE JUNE 30, 2027 PER CHAPTER 784 OF 2024 //
(a) In addition to the modification under § 10–307 of this subtitle, the amounts under this section are subtracted from the federal taxable income of a corporation to determine Maryland modified income.
(b) The subtraction under subsection (a) of this section includes the amounts allowed to be subtracted for an individual under:
(1) § 10–208(d) of this title (Enhanced agricultural management equipment expenses);
(2) § 10–208(i) of this title (Reforestation or timber stand expenses);
(3) § 10–208(k) of this title (Wage expenses for targeted jobs);
(4) § 10–208(p) of this title (Elevator handrails in health care facilities); and
(5) § 10–208(aa) of this title (Trade or business expenses of a licensed or registered cannabis grower, processor, dispensary, or any other cannabis establishment).
(c) In the case of a regulated investment company, the subtraction under subsection (a) of this section includes an amount equal to the exempt–interest dividends paid by the company that are attributable to amounts received by the company that are included in the addition modification for dividends and interest from state or local obligations of another state under § 10–305(d)(1) of this subtitle.
Frequently Asked Questions About Maryland § 10-308
What does Maryland Code § 10-308 cover?
Section 10-308 ("IN EFFECT") 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 § 10-308?
A common citation format is "Maryland Code § 10-308" (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 § 10-308 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.