1. (a) 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. (1) the person uses to compute income regularly in keeping the person's books; or
   2. (2) the Comptroller requires to reflect clearly the person's income.

2. (b) If a person does not file a federal income tax return, the person shall compute Maryland taxable income:

   1. (1) for the calendar year; or
   2. (2) if the person keeps adequate records for an annual fiscal year accounting period, for the fiscal year.

Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989.

Formerly Art. 81, § 284.