Form 502D "Personal Declaration of Estimated Income Tax" - Maryland

What Is Form 502D?

This is a legal form that was released by the Comptroller of Maryland - a government authority operating within Maryland. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on January 1, 2018;
  • The latest edition provided by the Comptroller of Maryland;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form 502D by clicking the link below or browse more documents and templates provided by the Comptroller of Maryland.

ADVERTISEMENT
ADVERTISEMENT

Download Form 502D "Personal Declaration of Estimated Income Tax" - Maryland

662 times
Rate (4.8 / 5) 46 votes
2018
PERSONAL
MARYLAND
FORM
DECLARATION OF
502D
ESTIMATED INCOME TAX
OR FISCAL YEAR BEGINNING
2018, ENDING
CHECK HERE IF THIS IS
CHECK HERE IF THIS IS
A CHANGE OF ADDRESS
A JOINT DECLARATION
Your Social Security Number
Spouse's Social Security Number
Your First Name
Initial
Your Last Name
Spouse's First Name
Initial
For Office Use Only
Spouse's Last Name
ME
YE
EC
EC
Current Mailing Address - Line 1 (Street No. and Street Name or PO Box)
Current Mailing Address - Line 2 (Apt No., Suite No., Floor No.)
City or Town
State
ZIP Code
IF YOU DO NOT ELECT TO FILE ELECTRONICALLY, USE THIS FORM TO REMIT ANY PAYMENT DUE AT THIS TIME. Additional copies of this form are
available at www.marylandtaxes.gov.
IMPORTANT: Please review the instructions before completing this form. If you are using this form for subsequent estimated payments
and you previously have calculated the amounts you must pay for each quarter, you do not need to complete this worksheet.
ESTIMATED TAX WORKSHEET
1. Total income expected in 2018 (federal adjusted gross income) . . . . . . . . . . . . . . . . . . . . . . . . .1.
2. Net modifications (See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2.
3. Maryland adjusted gross income (line 1, plus or minus line 2) . . . . . . . . . . . . . . . . . . . . . . . . . .3.
4. Deductions:
a. If standard deduction is used, see instructions.
b. If deductions are itemized, enter total of federal itemized deductions less state and
local income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4.
5. Maryland net income (Subtract line 4 from line 3.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5.
6. Personal exemptions (See instructions.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6.
7. Taxable net income (Subtract line 6 from line 5.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.
8. Maryland income tax (See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8.
9. Personal and business income tax credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.
10. Subtract line 9 from line 8 (If less than 0, enter 0.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10.
11. Local income tax or special nonresident income tax: Multiply line 7 by .0
(See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11.
12. Local income tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12.
13. Total 2018 Maryland and local income tax (Subtract line 12 from the sum of lines 10 and 11.). . .13.
14. Maryland income tax to be withheld during the year 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . .14.
15. Total estimated tax to be paid by declaration (Subtract line 14 from line 13.) . . . . . . . . . . . . . .15.
16. Amount to be submitted with declaration (Divide line 15 by 4.) . . . . . . . . . . . . . . . . . . . . . . . .16.
For payment by credit card see payment instructions.
Make checks payable to Comptroller of Maryland.
ESTIMATED TAX PAID FOR 2018 WITH THIS DECLARATION
$
(If filing and paying electronically or by credit card, do not submit this form.) . . . . . . .
COM/RAD-013
2018
PERSONAL
MARYLAND
FORM
DECLARATION OF
502D
ESTIMATED INCOME TAX
OR FISCAL YEAR BEGINNING
2018, ENDING
CHECK HERE IF THIS IS
CHECK HERE IF THIS IS
A CHANGE OF ADDRESS
A JOINT DECLARATION
Your Social Security Number
Spouse's Social Security Number
Your First Name
Initial
Your Last Name
Spouse's First Name
Initial
For Office Use Only
Spouse's Last Name
ME
YE
EC
EC
Current Mailing Address - Line 1 (Street No. and Street Name or PO Box)
Current Mailing Address - Line 2 (Apt No., Suite No., Floor No.)
City or Town
State
ZIP Code
IF YOU DO NOT ELECT TO FILE ELECTRONICALLY, USE THIS FORM TO REMIT ANY PAYMENT DUE AT THIS TIME. Additional copies of this form are
available at www.marylandtaxes.gov.
IMPORTANT: Please review the instructions before completing this form. If you are using this form for subsequent estimated payments
and you previously have calculated the amounts you must pay for each quarter, you do not need to complete this worksheet.
ESTIMATED TAX WORKSHEET
1. Total income expected in 2018 (federal adjusted gross income) . . . . . . . . . . . . . . . . . . . . . . . . .1.
2. Net modifications (See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2.
3. Maryland adjusted gross income (line 1, plus or minus line 2) . . . . . . . . . . . . . . . . . . . . . . . . . .3.
4. Deductions:
a. If standard deduction is used, see instructions.
b. If deductions are itemized, enter total of federal itemized deductions less state and
local income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4.
5. Maryland net income (Subtract line 4 from line 3.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5.
6. Personal exemptions (See instructions.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6.
7. Taxable net income (Subtract line 6 from line 5.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.
8. Maryland income tax (See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8.
9. Personal and business income tax credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.
10. Subtract line 9 from line 8 (If less than 0, enter 0.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10.
11. Local income tax or special nonresident income tax: Multiply line 7 by .0
(See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11.
12. Local income tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12.
13. Total 2018 Maryland and local income tax (Subtract line 12 from the sum of lines 10 and 11.). . .13.
14. Maryland income tax to be withheld during the year 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . .14.
15. Total estimated tax to be paid by declaration (Subtract line 14 from line 13.) . . . . . . . . . . . . . .15.
16. Amount to be submitted with declaration (Divide line 15 by 4.) . . . . . . . . . . . . . . . . . . . . . . . .16.
For payment by credit card see payment instructions.
Make checks payable to Comptroller of Maryland.
ESTIMATED TAX PAID FOR 2018 WITH THIS DECLARATION
$
(If filing and paying electronically or by credit card, do not submit this form.) . . . . . . .
COM/RAD-013
2018
PERSONAL DECLARATION
MARYLAND
FORM
OF ESTIMATED INCOME TAX
Page 1
502D
INSTRUCTIONS
Purpose of declaration The filing of a declaration of estimated
If Filing Status 2, 4, 5: If the amount computed is less than
Maryland income tax is a part of the pay-as-you-go plan of
$3,000, enter $3,000; if the amount is between $3,000 and
income tax collec tion adopted by the State. If you have any
$4,000, enter that amount; if the amount is more than $4,000,
enter $4,000.
income such as pensions, business income, lottery, capital
gains, interest, dividends, etc., from which no tax is withheld,
Itemized deductions. Enter the total of federal itemized
or wages from which not enough Maryland tax is withheld, you
deductions less state and local income taxes.
may have to pay estimated taxes. The law is similar to the
Line 6. Personal exemptions. If your FAGI will be $100,000 or
federal law.
less, you are allowed:
Who must file a declaration You must file a declaration of
a. $3,200 each for taxpayer and spouse.
estimated tax if you are required to file a Maryland income tax
b. $1,000 each for taxpayer and spouse if age 65 or over
return and your gross income would be ex pected to develop a
and/or blind.
tax of more than $500 in excess of your Maryland withholding.
c. $3,200 for each allowable dependent, other than
You must file a declaration with payment in full within 60 days
taxpayer and spouse. The amount is doubled for
of receiving $500 or more of income from awards, prizes,
allowable dependents age 65 or over.
lotteries or raffles, whether paid in cash or property if Maryland
If your FAGI will be more than $100,000, see chart below
tax has not been withheld. A married couple may file a joint
to determine the amount of exemption you can claim for
items a and c above.
declaration. If you are filing a joint declaration, both Social
Security numbers must be entered. If filing on behalf of a
minor, the name and Social Security number of the minor must
be entered.
If you will file your tax return
When to file a declaration You must pay at least one-fourth
of the total estimated tax on line 15 of this form on or before
April 15, 2018. The remaining quarterly payments are due
Joint, Head of
Single or
June 15, 2018, September 15, 2018 and January 15,
Household
If Your federal AGI is
Married Filing
2019. You may pay the total estimated tax with your first
or Qualifying
Separately
payment, if you wish. If you are filing on a fiscal year basis,
Widow(er)
Each
each payment is due by the 15th day of the 4th, 6th, 9th and
Each
Exemption is
13th months following the beginning of the fiscal year.
Exemption is
Overpayment of tax If you overpaid your 2017 income tax
(Form 502 or 505), you may apply all or part of the
$100,000 or less
$3,200
$3,200
overpayment to your 2018 estimated tax. If the over payment
applied equals or exceeds the estimated tax liability for the
But not
Over
first quarterly payment, you are not required to file the
over
declaration. If the overpayment applied is less than the
estimated tax liability, you should file the declaration and pay
$100,000
$125,000
$1,600
$3,200
the balance of the first installment.
$125,000
$150,000
$800
$3,200
How to estimate your 2018 tax The worksheet is designed
to develop an estimate of your 2018 Maryland and local income
$150,000
$175,000
$0
$1,600
tax. Be as accurate as you can in forecasting your 2018
income. You may use your 2017 income tax as a guide, but if
$175,000
$200,000
$0
$800
you will receive more income than you did in 2017, you must
pay at least 110% of your prior year tax to avoid interest for
In excess of $200,000
$0
$0
underpayment of estimated tax. For the purpose of estimating,
rounding all amounts to the nearest dollar is recommended.
Nonresidents who want to estimate 2018 Maryland taxes may
Line 8. Maryland income tax. Use the tax rate schedules below
use
the
Nonresident
Estimate
Tax
Calculator
at
to compute your tax on the amount on line 7.
www.marylandtaxes.gov.
For taxpayers filing as Single, Married Filing Separately, or as
Specific Instructions:
Dependent Taxpayers. This rate also is used for taxpayers filing
as Fiduciaries.
Line 1. Total income expected in 2018 is your estimated
federal adjusted gross income.
Tax Rate Schedule I
Line 2. Net modifications. You must add certain items to your
If taxable net income is:
Maryland Tax is:
federal adjusted gross income. See Instruction 12 of the tax
At least:
but not over:
instructions. You may subtract certain items from federal
$0
$1,000
2.00%
of taxable net income
adjusted gross income. See Instruction 13 of the tax
$1,000
$2,000
$20.00
plus 3.00%
of excess over $1,000
instructions. Enter on this line the net result of additions and
$2,000
$3,000
$50.00
plus 4.00%
of excess over $2,000
subtractions.
$3,000
$100,000
$90.00
plus 4.75%
of excess over $3,000
Line 4. Deductions. You may compute your tax using the
$100,000
$125,000
$4,697.50
plus 5.00%
of excess over $100,000
standard deduction method or the itemized deduction method.
$125,000
$150,000
$5,947.50
plus 5.25%
of excess over $125,000
Standard deduction. Compute 15% of line 3.
$150,000
$250,000
$7,260.00
plus 5.50%
of excess over $150,000
$250,000
--
$12,760.00
plus 5.75%
of excess over $250,000
If Filing Status 1, 3, 6: If the amount computed is less than
$1,500, enter $1,500; if the amount is between $1,500 and
$2,000, enter that amount; if the amount is more than $2,000,
enter $2,000.
COM/RAD-013
2018
PERSONAL DECLARATION
MARYLAND
FORM
OF ESTIMATED INCOME TAX
Page 2
502D
INSTRUCTIONS
For taxpayers filing Joint Returns, Head of Household, or for
Changes in income or exemptions Your situation may not
require you to file a declara tion on April 15, 2018. However,
Qualifying Widows/Widowers.
a large increase in income after that date may require you to
Tax Rate Schedule II
file a declaration. If at any time during the year you need to
amend your original declaration, simply increase or decrease
If taxable net income is:
Maryland Tax is:
the remaining payments.
At least:
but not over:
$0
$1,000
2.00%
of taxable net income
Forms and information Declaration of estimated tax forms
$1,000
$2,000
$20.00
plus 3.00%
of excess over $1,000
and any additional infor mation may be obtained online at
$2,000
$3,000
$50.00
plus 4.00%
of excess over $2,000
www.marylandtaxes.gov or from the Comptroller of
$3,000
$150,000
$90.00
plus 4.75%
of excess over $3,000
Maryland, Revenue Administration Division, 110 Carroll Street,
$150,000
$175,000
$7,072.50
plus 5.00%
of excess over $150,000
Annapolis, Maryland 21411-0001 (410-260-7980 from Central
Maryland or 1-800-MD-TAXES from elsewhere) or from any
$175,000
$225,000
$8,322.50
plus 5.25%
of excess over $175,000
branch office.
$225,000
$300,000
$10,947.50
plus 5.50%
of excess over $225,000
$300,000
--
$15,072.50
plus 5.75%
of excess over $300,000
Electronic filing You may file and pay your 2018 estimated
taxes electronically. When you use our iFile program, we give
Line 11. Local or special nonresident income tax. Maryland
you the ability to make a single estimated tax payment, as
counties and Baltimore City levy an income tax on residents
well as providing the convenience of scheduling all of your
that is a percentage of taxable net income. The amount you
payments at one time. These scheduled payments will be
entered on line 7 is your taxable net income. Multiply that
deducted from your bank account on the dates that you
amount by your local tax rate (see below) and enter on line
specify. Visit us at www.marylandtaxes.gov and look for
11.
online services.
Baltimore City . . . . . . . . . . .0320
Allegany County . . . . . . . . . .0305
ALTERNATIVE PAYMENT METHODS
Anne Arundel County . . . . . .0250
For alternative methods of payment, such as a credit card,
Baltimore County . . . . . . . . .0283
visit our website at www.marylandtaxes.gov.
Calvert County . . . . . . . . . . .0300
Caroline County . . . . . . . . . .0273
Payment by check or money order Make your check or
Carroll County . . . . . . . . . . .0303
money order pay able to Comptroller of Maryland. Use blue or
black ink. Write the type of tax, year of tax and tax being paid
Cecil County . . . . . . . . . . . .0300
on your check. It is recommended that you include your Social
Charles County . . . . . . . . . .0303
Security number on check. DO NOT SEND CASH.
Dorchester County . . . . . . . .0262
Frederick County . . . . . . . . .0296
Mailing instructions Mail your declaration of estimated tax
Garrett County . . . . . . . . . . .0265
to:
Harford County . . . . . . . . . .0306
Comptroller of Maryland
Howard County . . . . . . . . . .0320
Revenue Administration Division
110 Carroll Street
Kent County . . . . . . . . . . . .0285
Annapolis, Maryland 21411-0001
Montgomery County . . . . . . .0320
Prince George’s County. . . . .0320
Penalties and interest If you are required by law to file a
Queen Anne’s County . . . . . .0320
declaration of estimated tax for any tax year and you either
St. Mary’s County . . . . . . . .0300
(1) fail to file on the date prescribed, (2) fail to pay the
Somerset County . . . . . . . . .0320
installment or installments when due or (3) estimate a tax
Talbot County . . . . . . . . . . .0240
less than 90% of the developed tax shown on the return for
Washington County . . . . . . .0280
the current taxable year and which estimate was less than
110% of the tax that was developed for the prior year, you will
Wicomico County . . . . . . . . .0320
be subject to the penalties and interest as provided by law for
Worcester County . . . . . . . . .0175
the failure to file a return and the failure to pay a tax when
Nonresidents use . . . . . . .0175
due.
Filing a return instead of fourth payment Instead of
making the fourth declaration payment on or before January
15, 2019, you may file your 2018 personal income tax return,
provided you file it on or before January 31, 2019 and pay
in full with the return any balance of tax due.
Farmers and fishermen If your estimated gross income
from farming or fishing is at least two-thirds of your total
File and pay your estimated tax online.
estimated gross income for the year, special provisions may
Scan this code with your mobile phone or
apply. Your 2018 declaration and full payment of the estimated
tablet's QR Reader. Free readers are
tax are due on or before January 15, 2019. You do not have
available at your favorite APP store.
to file the declaration if you file your complete tax return
(Form 502 or 505) and pay the full amount of tax due on or
before March 1, 2019.
COM/RAD-013
Page of 3