The Maryland 510E form is an application used by pass-through entities to request an extension of time to file their income tax return. This form ensures that entities such as partnerships, S corporations, and limited liability companies can meet their filing obligations without incurring penalties for late submissions. To begin the process of filling out the Maryland 510E form, click the button below.
The Maryland 510E form serves as a crucial tool for pass-through entities seeking an extension of time to file their income tax returns. This application is essential for partnerships, S corporations, and limited liability companies that may need additional time to prepare their financial documents. By submitting Form 510E, entities can automatically request a six-month extension, provided that the application is filed by the original due date and accompanied by the full payment of any tax due. It is important to note that while this form grants an extension for filing, it does not extend the time allowed for tax payment, which is still due by the original deadline. The form requires specific information, including the entity's name, address, and Federal Employer Identification Number (FEIN), as well as details about the expected tax liability and any prior estimated tax payments. Additionally, the form includes options for indicating changes in the entity's status or address, ensuring that the state has the most accurate information. Understanding the nuances of the 510E form is vital for compliance and to avoid potential penalties, making it an indispensable resource for Maryland pass-through entities.
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MARYLAND
APPLICATION FOR EXTENSION OF TIME TO
19
FORM 510E
FILE PASS-THROUGH ENTITY INCOME TAX RETURN
FOR TAXABLE YEAR BEGINNING_____________, 19___
MAIL TO:
COMPTROLLER OF THE TREASURY
ENDING__________________________
REVENUE ADMINISTRATION DIVISION
ANNAPOLIS, MARYLAND 21411-0001
DO NOT WRITE IN THIS SPACE
Name
Number and street
RM
City or town
State
Zip code
ME
YE
EC
▶
Federal Employer Identification No. (9 digits)
FEIN Applied for date
Date of Organization or Incorporation (6 digits)
Federal Business Code No. (6 digits)
TYPE OF ENTITY: ☐ Partnership
☐ S corporation
☐ Limited liability company
CHECK HERE IF: ☐ Name or address has changed ☐ First filing of the entity ☐ Inactive entity
☐ Final return
1a.
An automatic extension of time to file the income tax return is requested until ____________________________________________ .
1b.
If the original due date for the federal return is after the 15th day of the 3rd month following close of the taxable year for an S corporation
or is after the 15th day of the 4th month following the close of the taxable year for a partnership or limited liability company, specify the
situation which affords the later original due date and enter the federal due date:
2a.
Has the pass-through entity filed an application for extension of time with the Internal Revenue Service?
☐ Yes ☐ No
b.If the answer to Question 2a is “No,” state the reason for this extension request:
3.Tentative tax (total nonresident partner, shareholder or member tax due or distributable cash flow limitation) . . . . . . .
4.Less estimated tax payments (total amount paid for the tax year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. Balance due (line 3 less line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
REMIT FULL AMOUNT DUE WITH THIS FORM — APPLICATION EXTENDS
ONLY THE TIME ALLOWED TO FILE THE RETURN AND NOT THE TIME ALLOWED TO PAY THE TAX
SIGNATURE AND VERIFICATION: Under penalties of perjury, I declare that I have examined this application (including attachments) and, to the best of my knowledge and belief, it is true, correct and complete. (Declaration of preparer other than taxpayer acknowledges authorization by the above named pass-through entity to make this application.)
Officer’s (or preparer’s) signature
Title (or preparer’s firm name and address)
Date
A PROPER APPLICATION FOR EXTENSION OF TIME TO FILE WILL NOT BE ACKNOWLEDGED. IF THE EXTENSION REQUEST IS DE- NIED, THE MARYLAND REVENUE ADMINISTRATION DIVISION WILL RETURN THIS APPLICATION AND INDICATE THE REASON BELOW:
☐Failed to file application timely as postmarked after the due date of the return. (The due date of the return is the 15th day of the 3rd month following the close of the taxable year for an S corporation and the 15th day of the 4th month following the close of the taxable year or period for a partnership or limited liability company, or by the original due date required for filing of the federal return.)
☐Failed to pay the full amount due shown on line 5. (If a partial amount was remitted, that amount has been applied to the account.)
☐Did not file an application for extension with the IRS and failed to include acceptable reason for this request.
☐Other:
If the application for extension is denied for any of the above reasons, the pass-through entity income tax return (Form 510) must be filed within ten (10) days or by the original due date, whichever is later. The full amount of any tax plus accrued interest is due at that time.
☐Cannot be approved for more than six months beyond the original due date. (An automatic six-month extension of time to file has been granted until
___________________________ .)
COT/RAD 008
INSTRUCTIONS FOR MARYLAND FORM 510E (Revised 1999)
APPLICATION FOR EXTENSION OF TIME
TO FILE PASS-THROUGH ENTITY
INCOME TAX RETURN
GENERAL INSTRUCTIONS
Purpose of Form Form 510E is used by a pass-through entity to request an extension of time to file the pass-through entity income tax return (Form 510).
General Requirements Maryland law provides for an extension of time to file, but in no case can an extension be granted for more than six months beyond the original due date. A request for exten- sion of time to file will be granted auto- matically for six months for S corporations and three months for partnerships and limited liability companies if:
1)Form 510E is properly filed and submitted by the original due date (S corporation: 15th day of the 3rd month following close of the tax year or period. Partnerships and limited liability companies: 15th day of the 4th month following close of the tax year or period.);
2)full payment of any balance due is submitted with Form 510E; and
3)an application for extension of time has been filed with the Internal Revenue Service or an acceptable reason has been provided with Form 510E.
An additional three-month extension may be granted to a partnership or limited liability company for reasonable cause with the filing of an additional Form 510E.
A proper application for extension of time to file will not be acknowledged. If the extension request is denied, the pass-through entity will be notified.
Form 510E does not extend the time allowed a pass-through entity to pay the personal income tax for nonresident part- ners, shareholders or members. Maryland law provides for accrual of interest and imposition of penalty for failure to pay any tax when due.
When and Where to File File Form 510E by the 15th day of the 3rd month following the close of the taxable year or period if an S corporation; by the 15th day of the 4th month following the close of the taxable year or period if a partnership or limited liability company. The return must be filed with the Comptroller of the Treasury, Revenue Administration Division, Annapolis, Maryland 21411-0001.
SPECIFIC INSTRUCTIONS
Taxable Year or Period Enter the beginning and ending dates of the tax- able year in the space provided at the top of Form 510E.
Name, Address and Other Information
Type or print the required information in the designated area. DO NOT USE THE LABEL FROM THE TAX BOOKLET COVER.
Enter the exact pass-through entity name and continue with any “Trading As” (T/A) name if applicable.
Enter the Federal Employer Identifica- tion Number (FEIN). If a FEIN has not been secured, enter “APPLIED FOR” followed by the date of application. If a FEIN has not been applied for, do so immediately.
Be sure to check the applicable box to indicate the type of pass-through entity: partnership, S corporation or limited liability company.
Check the applicable box if: (1) the name or address has changed; (2) this is the first filing of the pass-through entity;
(3)this is an inactive pass-through entity (in Maryland and elsewhere); (4) this is the final return of a pass-through entity which has dissolved, liquidated or with- drawn from Maryland. Do not check the box for inactive or final if the pass- through entity is inactive in Maryland but active elsewhere.
Tentative Tax Enter the total amount of income tax liability expected for the tax year on line 3.
Estimated Tax Payments Enter on line 4 the total amounts paid with Form 510D - Declaration of Estimated Pass- Through Entity Nonresident Tax for the taxable year or period.
Balance Due Enter the amount of tax due on line 5 and remit full payment with this form.
Signature and Verification An author- ized officer or the paid preparer must sign and date Form 510E indicating the officer’s title or preparer firm name and address.
Payment Instructions Include a check or money order made payable to the Comptroller of the Treasury for the full amount of any balance due. All payments must indicate the Federal Employer Identi- fication Number, type of tax and tax year beginning and ending dates. DO NOT SEND CASH.
Mailing Instructions Use the enve- lope provided in the tax booklet and place an “X” in the appropriate box in the lower left corner to indicate the type of document enclosed. Also, be sure to read and follow the reminders listed on the back of the envelope.
Understanding the Maryland 510E form can be challenging. Here are nine common misconceptions about this form, along with clarifications to help you navigate the process.
This form only extends the time to file the tax return, not the time to pay any taxes owed. Payment is still due by the original deadline.
An extension is only granted if the form is filled out correctly, submitted on time, and accompanied by any required payments.
The form must be filed by specific deadlines based on the type of entity. For S corporations, it’s the 15th day of the 3rd month after the tax year ends; for partnerships and LLCs, it’s the 15th day of the 4th month.
Pass-through entities must file an extension with the IRS to qualify for an extension in Maryland. If this is not done, the request may be denied.
The maximum extension allowed is six months. If you need additional time, you must provide a valid reason and file a new request.
This form is applicable to various types of pass-through entities, including partnerships, S corporations, and limited liability companies.
Do not use labels from the tax booklet. You must enter the exact name and address of the entity directly on the form.
If you have not filed an extension with the IRS, you must provide an acceptable reason for your request on the form.
Currently, this form must be mailed to the Comptroller of the Treasury in Annapolis. Ensure you follow the mailing instructions carefully.
When filling out the Maryland 510E form, individuals often make several common mistakes that can lead to complications or delays in processing their application for an extension of time to file their pass-through entity income tax return. Understanding these mistakes can help ensure that the form is completed accurately and submitted on time.
One frequent error is failing to provide the correct Federal Employer Identification Number (FEIN). This number is crucial for identifying the entity and must be entered accurately. If the FEIN has not yet been secured, individuals should indicate “APPLIED FOR” along with the application date. Omitting or incorrectly entering this information can result in the application being denied or delayed.
Another mistake involves the tentative tax calculation. Many people either underestimate or overestimate their tax liability. It's important to carefully calculate the total expected income tax liability for the year and enter that amount on line 3. If this figure is incorrect, it can affect the balance due and complicate the entire process.
Additionally, some individuals forget to check the appropriate boxes that indicate the type of entity or any changes in status. For example, if there has been a change in the entity's name or address, it’s essential to mark that box. Failing to do so can lead to confusion and further issues with the application.
People also sometimes neglect to include the full payment of any balance due when submitting the form. It’s crucial to remember that the application for an extension does not extend the time to pay taxes owed. If the full amount is not remitted with the application, it may be denied, and penalties could accrue.
Another common oversight is the failure to file an application for extension with the Internal Revenue Service (IRS). The form requires that applicants confirm whether they have filed with the IRS. If the answer is “No,” a valid reason must be provided. Omitting this information can lead to denial of the extension request.
Finally, individuals often overlook the importance of the signature and verification section. An authorized officer or preparer must sign and date the form, indicating their title or the preparer's firm name and address. Without a signature, the application will not be considered valid, leading to further complications.
By being aware of these common mistakes, individuals can take the necessary steps to complete the Maryland 510E form accurately and avoid potential issues. Taking the time to double-check all entries and ensure compliance with the requirements will help facilitate a smoother filing process.
When filling out and using the Maryland 510E form, consider the following key takeaways:
When filing the Maryland 510E form, several other documents may be necessary to ensure compliance with tax regulations. These forms help clarify the entity’s financial situation and support the extension request. Below is a brief overview of five commonly used forms and documents that often accompany the Maryland 510E.
Understanding these documents and their purposes can significantly aid in the accurate filing of tax returns and extensions. Each form plays a critical role in maintaining compliance with both state and federal tax obligations.
The Maryland Form 510E is similar to the IRS Form 7004, which is used to request an automatic extension of time to file certain business income tax returns. Both forms allow entities such as partnerships and S corporations to extend their filing deadlines. The key similarity lies in the automatic extension provision; if the forms are filed correctly and on time, they grant additional time to prepare the returns without incurring penalties. However, while Form 510E is specific to Maryland state taxes, Form 7004 pertains to federal tax obligations.
Another comparable document is the California Form 3537, which is used for requesting an extension to file a California partnership return. Like the Maryland Form 510E, it provides a mechanism for partnerships to extend their filing deadlines. Both forms require the entity to indicate its tax liability and any payments made, ensuring that the tax owed is addressed even as the filing date is postponed. The primary difference is that Form 3537 is tailored for California tax law, while Form 510E adheres to Maryland regulations.
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The New York Form IT-370-P, similar to Form 510E, serves as an application for an extension of time to file a partnership return in New York. Both forms require the entity to submit specific information about its tax situation, including any tentative tax due. They also share the requirement that the full tax amount must be paid by the original due date to avoid penalties. However, Form IT-370-P is specific to New York state tax law and procedures.
Form 8868, the IRS application for extension of time to file an exempt organization return, is another related document. While it is not limited to pass-through entities, it does allow certain organizations to extend their filing deadlines. Both Form 510E and Form 8868 emphasize the need for timely payment of any tax due. The critical distinction lies in the type of entities they serve, with Form 8868 focused on tax-exempt organizations and Form 510E on pass-through entities.
The Texas Form 05-102 is used by partnerships to request an extension for filing their franchise tax return. This form is similar to Form 510E in that it provides a means for partnerships to extend their filing deadlines. Both forms require the submission of tax liability information and emphasize the need for timely payment to avoid penalties. However, Texas Form 05-102 is specific to Texas franchise tax, while Form 510E is for Maryland income tax.
The Florida Form DR-501 is an extension request for corporate income tax returns. Like Form 510E, it allows corporations to request additional time to file their returns. Both forms require the payment of any estimated tax due and share similar deadlines for submission. The main difference is that Form DR-501 is designed for corporate entities in Florida, whereas Form 510E is tailored for pass-through entities in Maryland.
Form 7004 for S corporations is another document that mirrors the Maryland Form 510E. Both forms provide a method for S corporations to request an extension of time to file their respective returns. They share similar requirements regarding the payment of taxes due and the information needed to process the extension request. However, Form 7004 is specifically for federal tax extensions, while Form 510E is state-specific.
The Virginia Form 500E serves a similar purpose for partnerships and S corporations in Virginia, allowing them to request an extension to file their income tax returns. Both forms necessitate the reporting of tax liability and the payment of any taxes owed by the original due date. The distinction lies in the jurisdiction; Virginia Form 500E pertains to Virginia state tax law, while Form 510E is specific to Maryland.
Finally, the Illinois Form IL-505-I is an extension request for individual income tax returns, which can also be relevant for pass-through entities. Both forms allow for an extension of time to file, requiring the payment of any taxes due. The difference, however, is that Form IL-505-I is focused on individual income tax, while Form 510E is specifically for pass-through entities in Maryland.