Shareholder Information > Maryland tab

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Use the state tabs in the Shareholder Information window to enter state-specific information for shareholders. State tabs appear only if you have added states to the return.

To update a shareholder's state-specific information, click that shareholder in the Shareholder Information window, and then click the appropriate state tab.

Fields & buttons

Maryland information group box

If the shareholder is a nonresident, enter a code from the following table or select the code from the drop-down list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS does not calculate Form 510C for the shareholder.

Code Description
1

Individual return filer (default)

This is the default filing for nonresident shareholder when a code is not selected from the drop-down list. Select this option to indicate the corporation will not be filing Form 510C on behalf of the nonresident shareholder and the shareholder will file their own Maryland individual tax return.
2

Composite filer

Select this option to indicate the pass-through entity is filing a composite return on behalf of a nonexempt, nonresident shareholder. If this option is selected, UltraTax CS completes Form 510C - Maryland Composite Pass-Through Entity Income Tax Return and calculates the net tax due for all participating composite nonresident shareholders.

Mark this checkbox if the shareholder is tax exempt under IRC section 408(e) or 501. If you mark this checkbox, UltraTax CS calculates nonresident taxes excluding this shareholder.

Mark this checkbox if the charitable organization is treated as an LLC for Maryland tax purposes. If you mark this checkbox, UltraTax CS lists the shareholder on Form 510, Schedule B, Part III. Otherwise, the charitable organization is treated as a corporation and is listed on Form 510, Schedule B, Part IV.

UltraTax CS provides this statement dialog for supplemental information specific to each shareholder. Use this statement dialog for items that are not pro rata. If you have pro-rata items that need to be reported to each shareholder, use Section A in Screen MDKSep. UltraTax CS prints the information you enter in this statement dialog on the Schedule K-1 statement for Page 2, Part F, Additional Information.

Composite return group box

Enter the number of exemptions to each shareholder included in the composite return Form 510C. UltraTax CS uses this information to complete Form 510C, Schedule A for each composite filer.

Enter the amount of the allowable exemption for the shareholder included in the composite return Form 510C. UltraTax CS uses this information to complete Schedule A for each composite filer.

Enter the maximum standard deduction allowed for the shareholder included in the composite return Form 510C. UltraTax CS uses this information to complete Form 510C, Schedule A for each composite filer.

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