Final answer:
Maryland does not adopt the Geoffrey approach to the taxation of income from intangibles. Instead, Maryland follows the Rolfe approach, which taxes income from intangibles based on the residence of the owner of the intangible property.
Step-by-step explanation:
The Geoffrey approach is a tax framework used by states to tax income from intangibles. Currently, **Maryland** does not adopt the Geoffrey approach to the taxation of income from intangibles. Instead, Maryland follows a different approach known as the **Rolfe approach**. Under the Rolfe approach, Maryland taxes income from intangibles based on the residence of the owner of the intangible property.
For example, if an individual or business is a resident of Maryland and earns income from intangible property, such as royalties from intellectual property or interest income from out-of-state bonds, Maryland will tax that income as part of their Maryland income tax return.
It is important to note that tax laws are subject to change, so it is always advisable to consult with a tax professional or refer to the latest tax regulations when considering specific tax matters.