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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've added states to the return.To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
window, then the state tab.Fields and buttons — Maryland information group box
Nonresident filer
If the shareholder is a nonresident, enter a code from the following table or select the code from the dropdown 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 1 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 2 to indicate the pass-through entity is filing a composite return on behalf of a nonexempt, nonresident shareholder. 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. |
Exempt from nonresident tax
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.
Charitable organization treated as a LLC
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.
Supplemental information
Use this statement for supplemental information specific to each shareholder and 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 on the Schedule K-1 statement for Page 2, Part F, Additional Information.
Composite return group box
Number of exemptions
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.
Exemption
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.
Standard deduction
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.