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Captive Real Estate Investment TrustsThe Maryland modified income of a captive real estate investment trust (REIT) must be determined by a new addition modification on the 2007 Maryland corporation income tax return and the addition amount must equal the amount of the dividends paid deduction allowed by IRS on the corporation's federal return. Maryland law defines a captive REIT as a corporation, trust or association that is:
A captive REIT under Maryland law does not include any of the following entities:
The addition modification must be reported on line 2f of Maryland Form 500. For more information, see Chapter 584, Acts of 2007 and Chapter 583, Acts of 2007. |
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