510: Pass-Through Entity Tax Return (2024)
Maryland · Comptroller of Maryland · Used for tax years 2024
Maryland Form 510 is the 2024 income tax return for pass-through entities paying tax only on behalf of nonresident members. It reports income allocable to Maryland, nonresident members' shares of income, tax due, payments, credits, and any refund.
Who files this form
Use the 2024 Maryland Form 510 if your pass-through entity (PTE) is paying tax only on behalf of nonresident members and is not electing to pay tax on all members’ shares of income. The form lists S corporations, partnerships, limited liability companies, and business trusts as entity types.
If the PTE made an irrevocable election on Form 510/511D or 510/511E to pay tax on all members’ shares, it must file Form 511 instead.
You may also use Form 510 to request a refund of estimated payments made on resident members’ shares if the PTE decided not to make the entity election.
What you'll need
Have these records and details ready:
- Federal Form 1065 or 1120S, which supplies the income amount for line 2.
- The entity’s FEIN, mailing address, organization or incorporation date, and business activity code.
- Member names, addresses, Social Security numbers or FEINs, residency status, and shares of income, tax paid, and tax credits for Schedule B.
- Nonresident members’ ownership percentages, or profit/loss percentages if applicable.
- Records of estimated tax payments and extension payments.
- Schedule K-1 (510/511), which must be attached when claiming credits on lines 16c, 16d, or 16e.
- Maryland and total receipts, property, and payroll information, as applicable for Schedule A.
- Bank account type, routing number, account number, and account name if requesting direct deposit.
If amending, gather records of payments and refunds from the original return. If reporting previously unreported IRS adjustments, submit the amended return and a copy of the IRS adjustment report separately.
How to file
For a paper return, print using blue or black ink only. Have a general partner, officer, or member sign and date the return. A preparer other than the taxpayer must provide a signature and PTIN.
Mail to:
Comptroller of Maryland
Revenue Administration Division
110 Carroll Street
Annapolis, Maryland 21411-0001
Pay the total nonresident balance due in full with the return. Make your check or money order payable to Comptroller of Maryland. Include the FEIN, tax year, and tax type on the payment in blue or black ink. The form marks where to staple a check.
Electronic filing is required to pass business tax credits from Form 500CR and/or Form 502S to members.
Common mistakes
- Using Form 510 after electing to pay tax on all members’ shares. If you made the irrevocable election on Form 510/511D or 510/511E, use Form 511 instead.
- Leaving identifying details off a payment. The check or money order must include the FEIN, tax year, and tax type. Missing information will delay payment processing.
- Filing on paper to pass through business tax credits. Form 510 must be filed electronically to pass credits from Form 500CR and/or Form 502S to members.
- Including ineligible members in a composite return. Nonresident entity and fiduciary members cannot file a composite return or be included in one filed by nonresident individual members.
- Entering unclear or incorrect bank details. Verify that all direct-deposit account information is correct and clearly legible.
Questions people ask
Can Form 510 be used to recover estimated tax paid on resident members’ shares?
Yes. The form may be used to request a refund of those estimated payments if the PTE decided not to make the entity election.
When do I complete lines 5 through 19?
Complete those lines if there is an entry on line 1b or 1c. The form states that tax is calculated only for nonresident individual or nonresident entity members and directs investment partnerships to the specific instructions.
Can I have my refund deposited into a bank account?
Yes. Authorize direct deposit and enter the account type, nine-digit routing number, account number, and name on the account. Also check the applicable box if the refund will go to an account outside the United States.
Can my preparer discuss the return with Maryland?
Yes. Check the authorization box in the signature and verification section.
How should members be listed on Schedule B?
List individual members in Social Security number order. List fiduciary, PTE, and corporation members in FEIN order in their respective parts of Schedule B.