§ 10-502. When federal return not filed

Latest version.

   (a) Cash or accrual method. -- If a person does not file a federal income tax return, the person shall compute Maryland taxable income in accordance with the cash or accrual accounting method that:

   (1) the person uses to compute income regularly in keeping the person's books; or

   (2) the Comptroller requires to reflect clearly the person's income.

(b) Calendar or fiscal accounting period. -- If a person does not file a federal income tax return, the person shall compute Maryland taxable income:

   (1) for the calendar year; or

   (2) if the person keeps adequate records for an annual fiscal year accounting period, for the fiscal year.

HISTORY: An. Code 1957, art. 81, § 284; 1988, ch. 2, § 1.

                    
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