Requiring affiliated corporations to compute Maryland taxable income using a certain combined reporting method; authorizing certain corporations, subject to regulations adopted by the Comptroller, to determine certain income using the water's edge method; providing a subtraction modification under the Maryland corporate income tax for certain changes to a certain combined group's deferred tax assets or liabilities that are the result of certain provisions of the Act; etc.

Statutes affected:
Text - First - Corporate Income Tax - Combined Reporting: 10-311 Tax General, 10-402.1 Tax General, 10-402.1 Tax General, 10-304 Tax General, 10-811 Tax General