COMAR 03.04.03.01. Scope.

A. This chapter provides specific guidance to all corporate entities subject to the Maryland income tax laws. B. COMAR 03.04.08 applies to banking and similar institutions as defined in that chapter. Corporations not coming within that definition, including subsidiaries or affiliates of banking and similar institutions, shall apportion their income between Maryland and other states as required by applicable regulations and administrative releases of the Comptroller. C. Banking and nonbanking institutions are required to file a Maryland corporate income tax return if they are engaged in or conducting business in this State. No change is intended by these regulations in existing income tax law or practice with respect to the level of activity sufficient to require the filing of an income tax return, or the apportionment of income to this State. D. Banking and nonbanking institutions may be required to use a modified apportionment formula under the authority of COMAR 03.04.08.03C if a banking institution, and of Regulation .08E of this chapter if a nonbanking institution.