Ground state optimizations and excited state calculations were performed to analyze the possible anionic forms of Alizarin Red S(ulphonated) and its ML 2 type metal complexes formed with palladium(II). Six functionals have been tested (B3LYP, M06-2X, M06, BH&HLYP, PBE0, LC-wPBE, and CAM-B3LYP) with two basis sets (6-311+g(d,p) and TZVP). The relative errors of these functionals in reproducing the experimental UV-Vis absorption wavelengths are reported for the energetically lowest lying isomers. It was found that the degree of deprotonation affects several functionals in a systematic way. M06 and CAM-B3LYP xc-functionals gave the best estimates according to the average relative errors.These two functionals were then used to explore the coordination mode (hydroxy-keto or catechol) of the palladium(II) complexes and the effect of (de)protonation.