500D (2D): Declaration of Estimated Corporation Income Tax (2D) (2024)
Maryland · Comptroller of Maryland · Used for tax years 2024
Maryland Form 500D is used by corporations to declare and pay estimated income tax for 2024. It includes a worksheet for expected taxable income, estimated annual tax and quarterly payments, and records the estimated tax paid with the declaration.
Who files this form
A corporation must make estimated income tax payments if it reasonably expects its Maryland taxable income to produce tax of more than $1,000 for the tax year or period. Form 500D is used to declare and pay that estimated tax.
- Total estimated payments must be at least 90% of the current year's tax or 110% of the prior year's tax to avoid interest and/or penalty. At least 25% of the total estimated tax must be paid by each installment due date.
- A corporation with a short tax period of less than 4 months does not have to pay estimated tax or file Form 500D.
- Affiliated corporations filing a consolidated federal return must file separate Maryland declarations for each member corporation.
When it's due
For the tax year or period beginning in 2024, file Form 500D on or before the 15th day of the 4th, 6th, 9th and 12th months following the beginning of the tax year or period.
What you'll need
Have the following information ready:
- The beginning and ending dates of the tax year or period, using the same period as the federal return.
- The corporation's name exactly as shown in its Articles of Incorporation, or as amended, followed by any Trading As (T/A) name.
- The corporation's mailing address and 9-digit Federal Employer Identification Number (FEIN).
- Expected taxable income for the tax year or period beginning in 2024 and any tax credits, if completing the worksheet.
- The amount of estimated tax being paid with this declaration.
For a mailed payment, include a check or money order payable to Comptroller of Maryland.
How to file
Enter the corporation's information, tax period and payment amount. Print using blue or black ink. Check the box if this is a first-time filing or the mailing address has changed.
If completing the worksheet, enter expected taxable income, calculate estimated income tax at 8.25% of that income reduced by any tax credits, and divide the result by four for the quarterly amount. For later payments, you do not need to repeat the worksheet if you already calculated the quarterly amount.
Electronic options
- Electronic Funds Transfer: Register before using this method. Get a registration form at marylandtaxes.gov or call 410-260-7980.
- Modernized Electronic Filing: Use a provider approved by the IRS and the Revenue Administration Division.
Payments of $10,000 or more must use one of these two electronic methods. If you pay by Electronic Funds Transfer or file electronically, do not mail Form 500D. Keep it with the company's records.
By mail
Make the check or money order payable to Comptroller of Maryland. Using blue or black ink, write the FEIN, tax type and tax year beginning and ending dates on the payment. Mail the payment and completed Form 500D to:
Comptroller of Maryland
Revenue Administration Division
110 Carroll Street
Annapolis, MD 21411-0001
For additional payments for the current tax year, file electronically or download another Form 500D at marylandtaxes.gov.
Common mistakes
- Do not use Form 500D to pay estimated tax for Forms 510 or 511, or to pay employer withholding tax.
- Do not send cash.
- Do not omit the FEIN, tax type or tax year from a check or money order. Missing information will delay payment processing.
- Do not mail Form 500D after paying by Electronic Funds Transfer or filing electronically. Keep it with the company's records instead.
- Do not use the annualization method to calculate corporate estimated tax. It is not permitted.
- Do not file a consolidated Maryland declaration. Each member corporation must file separately.
- Review the instructions before completing the form. Failure to pay tax when due can result in interest and penalty.
Questions people ask
Can a prior-year overpayment count toward this year's estimated tax?
Yes. A corporation may apply part or all of an overpayment from its prior-year Form 500, Maryland Corporation Income Tax Return, to this year's estimated tax obligation.
What if the estimated tax amount changes?
Recalculate the estimate using the worksheet. Adjust the next installment for any previous underpayment or overpayment. The remaining installments must each be at least 25% of the amended estimated tax due for the year.
What if the corporation does not have an FEIN yet?
If the corporation has applied but has not received an FEIN, enter “APPLIED FOR” followed by the application date. If it has not applied, the instructions say to do so immediately.
How are payments calculated for a short tax year?
The total required is 90% of the current short year's tax or 110% of the prior year's tax. Divide that total by the number of installment due dates occurring during the short tax year to find the minimum payment for each due date. A short tax period of less than 4 months does not require estimated tax payments or Form 500D.