Starting in tax year 2020 Maryland released a new version of the PTE forms:
- There's a new version of Form 510, Pass-Through Entity Tax Return.
- There's a new Form 511, Pass-Through Entity Election Income Tax Return.
MD Senate Bill 787 requires electing entities to adjust taxable income for applicable state and local income taxes. The new Form 511 is reserved for taxpayers electing to remit taxes on all members (electing entities). All other filers that aren't electing entities should file on the updated Form 510.
These returns are due on September 15, 2022.
Before you start
- By checking the box for Form 511, the taxpayer becomes an “electing entity” and taxes for all members are remitted by the passthrough entity.
- Checking the box for Form 510 requires the taxpayer to withhold taxes on behalf of nonresident members of the pass-through entity. This mimics prior year treatment for Maryland passthrough entities.
Select the applicable return type below for instructions on generating the Form 510 or Form 511.