500D: Declaration of Estimated Corporation Income Tax (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 and quarterly tax, and the amount paid with the declaration.
Who files this form
Corporations must make estimated income tax payments if they reasonably expect their 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.
- 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 that file a consolidated federal return must file separate Maryland declarations for each member corporation.
- Do not use Form 500D for estimated tax for Forms 510 or 511, or for employer withholding tax.
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.
At least 25% of the total estimated tax must be paid by each installment due date. For a short tax year, divide the total estimated tax required by the number of installment due dates occurring during that short year. No estimated payment or Form 500D is required for a short tax period of less than 4 months.
What you'll need
Have the following information ready:
- The corporation’s name exactly as shown in its Articles of Incorporation, or as amended, followed by any applicable “Trading As” name.
- The corporation’s mailing address and 9-digit Federal Employer Identification Number (FEIN).
- The beginning and ending dates of the tax year, using the same tax year or period as the federal return.
- Expected taxable income, applicable tax credits and the estimated payment amount.
If you have applied for a FEIN but have not received it, enter “APPLIED FOR” followed by the application date.
For a mailed payment, include a check or money order payable to Comptroller of Maryland.
How to file
Complete the corporation’s identifying information and tax-year dates. Use blue or black ink if printing by hand. Check the box if this is your first filing or your mailing address has changed.
Use the worksheet to calculate estimated tax: multiply expected taxable income by 8.25%, reduce that amount by any tax credits, then divide by four for the quarterly amount. Enter the estimated tax paid with this declaration. For later payments, you may skip the worksheet if you already calculated the quarterly amount.
Electronic payment or filing
- Electronic Funds Transfer: Register first. Obtain a registration form at marylandtaxes.gov or call 410-260-7980.
- Modernized Electronic Filing: Use a provider approved by the IRS and Maryland 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. Include the FEIN, tax type and tax-year beginning and ending dates on the payment, using blue or black ink. Do not send cash.
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
- Leaving identifying information off the payment. Missing the FEIN, tax type or tax year will delay processing.
- Sending cash. The form expressly says not to send cash.
- Mailing Form 500D after paying by Electronic Funds Transfer or filing electronically. Keep the form with the company’s records instead.
- Using a nonelectronic method for a payment of $10,000 or more. These payments must use one of the two listed electronic methods.
- Using the wrong form. Form 500D is not for estimated tax for Forms 510 or 511, or for employer withholding tax.
- Using the annualization method or filing a consolidated Maryland declaration. Neither is allowed for corporations.
- Paying too little or paying late. To avoid interest and/or penalty, total estimated payments must be at least 90% of the current-year tax or 110% of the prior-year tax, with the required installments paid by their due dates.
Questions people ask
Can I apply last year’s overpayment to this year’s estimated tax?
Yes. You may apply part or all of an overpayment from the prior-year Form 500, Maryland Corporation Income Tax Return, to this year’s estimated tax obligation.
What if my estimated tax changes?
Recalculate the required estimated tax using the worksheet. Adjust the next installment for any earlier underpayment or overpayment. The remaining installments must each be at least 25% of the amended estimated tax due for the year.
Do I need to complete the worksheet for every payment?
No. For subsequent payments, you do not need to complete it if you already calculated the amount to pay each quarter.
What if I do not have a FEIN yet?
If you have applied, enter “APPLIED FOR” followed by the application date. If you have not applied, the instructions say to do so immediately.