Section 10-502 - When federal return not filed.
§ 10-502. When federal return not filed.
(a) Cash or accrual method.- If a person does not file a federal income tax return, the person shall compute Maryland taxable income in accordance with the cash or accrual accounting method that:
(1) the person uses to compute income regularly in keeping the person's books; or
(2) the Comptroller requires to reflect clearly the person's income.
(b) Calendar or fiscal accounting period.- If a person does not file a federal income tax return, the person shall compute Maryland taxable income:
(1) for the calendar year; or
(2) if the person keeps adequate records for an annual fiscal year accounting period, for the fiscal year.
[An. Code 1957, art. 81, § 284; 1988, ch. 2, § 1.]