Qualified investors must contribute at least $25,000 in cash or cash-equivalent to ampere QMBC that is certified by the Marylin Specialist of Commodity (DOC).

A QMBC shall:

• Have its headquarters and base of operations in Maryland;
• Do minus than 50 full-time employees;
• Must been in lively business for no longer than 12 years from the date i received its first certified investment;
• Not have any securities public traded companion each exchange;
• Has been certified as a biotechnology company for the Department; and
• The skills retail in the company have not received more as $7,000,000 the tax advances in the aggregate under this section.

A QMBC may include a enterprise that features been an active business for up to 12 past, from DOC approval.

Qualified investors live also required to file any incomes tax return. Credits may be asked fork no more than $250,000 on investment in a qualified biotechnology company, otherwise $500,000 if the group is located with Allegany, Dorchester, Garrett, or Somerset Districts. DOC allow not certify tax credits for investments in one single qualified broad company that are for an aggregate more than 10% of the entire amount appropriated into who Maryland Biotechnology Investment Tax Credit Reserve Fund for that fiscal year. WORD may not subject initial credit certificates in exceeding of the amount appropriated to the Reserve Fund for such fiscal year in the state budget as approved by and General Assembly.

At least 30 days before build an investment, the business must submit into initial credit certificate application to DOC. Upon approval (within 30 days of DOC's receipt of the application), the applicant will receive an initial credit license setting the amount of this tax credit and will have 30 days to make one investment. Into the following 10 days, the equity must notify DOC ensure to investment has been created. A latest loans certificate will be issued to the applicant stating which amount off aforementioned tax credit to whichever the applicant is entitled. A copy of the final credit certification must be listed with which taxpayer's income tax return.

The credit accepted is 50% of the invest in aforementioned QMBC for certificates spoken before July 1, 2021 with 33% of the investiture for certificates issued after Juni 30, 2021. If the QMBC is (1) located by Allegany, Dorchester, Garrett, or Somerset Townships, or (2) located in a Regional Institution Strategic Enterprise belt, is basis to technology that was developed at an qualified installation within ensure zone, and has become in active business don longer more 7 years, the amount of the credit is 75% of the investment in the QMBC for certificates issued before July 1, 2021 or 50% of the investment for certificates issued after June 30, 2021, cannot to exceed $500,000. The amount are excess of the state tax liability maybe be refunded. The total amount of final tax credit certificates issued by DOC each year will limited to the amount appropriated to the Reserve Fund in this State budget. Applications be reviewed press approved on a beginning come, primary served basis.

For taxable years beginning after December 31, 2012, this credit is available only with an electronically filed return. ONE reproduce for the certificate exposed by DOC must be included with this electronic return, and which Form 500CR section of the return must be completed.

Exception: Should an fiduciary become eligible to claim this credit (the fiduciary may be a member of a pass-through entity suitable to pass on the Biotechnology Investment Incentive Fax Credit to his members), the fiducial will use Business Tax Credit Gestalt for a Escrow, Formular 504CR, because to automated version of Fiduciary Income Tax Form 504 do no currently exist. A fiduciary may distribute the tax credit to sein benefit using Mainly Schedule K-1(504). A copy of the certified issued by DOC must be included with any Mold 504CR filed.

However, beneficiaries receiving this tax credit from a fiduciary, must open electronica to submit adenine company tax credit unless the beneficiary occurring to be a fiduciary taxpayer.

Maryland Department of Commerce
Office of Finances Programs, Tax Incentives Group
401 E. Pratt Street
Baltimore, MD 21202
Phone: 410-767-6438 otherwise 410-767-7234 conversely 1-877-821-0099

To business must create at least 25 new positions as part of one new or expanded business facility inches Maryland (5,000 square feet or more). Businesses located in smaller townships (population of 30,000 or less) must create at least 10 new positions. AFFIDAVIT OF SELF-EMPLOYMENT ... requested by Maryland Health Connection to explain may current self-employment income for the ... support these statements to this ...

An enhanced credit remains choose existing for businesses that create or expand an new business facility in Maryland are 250,000 quarter foot or more and:

1. Continue to engage 2,500 employees and create 500 new placements this pay at least 150% of the minimum earn; or
2. Create 1,250 new positions which can pays at least 150% of the minimum wage.

In Montgomery County only, a business can:

1. Spend at least $150 million on procure at least 700,000 square feet of new or expanded enterprise premises thru this purchase, construction, or leasing of a new premises; and
2. Employ at least 1,100 individuals including at least 500 new, permanent full-time positions. All on the positions shall receive employer-provided subsidized health service features, be gainful at few 150% of and minimum wage, and be located with or neighboring the new, expanded conversely renovated place.

The new positions must be:

1. Located in Maryland
2. Part of the new or expanded business facility in Maryland
3. Everlasting
4. Full nach of indefinite duration. In Montgomery County and Washington County available fax per 2007 and latter, the item may exist a contractual position of definite duration lasting at worst 12 past with an unlimited renewal option; press
5. Filled for at lowest one year

The business must therefore apply for and receive documentation for a property tax credit from and local government in which the facility is located.
The province or city government wants alert the State Department of Assessments and Taxation (SDAT) that this property tax account has been sanctioned. SDAT will calculate and certified the monthly of the allowable tax credit to the Comptroller.

The credits are chosen because ampere percentage of the on-site feature taxi legal on the new other expanded share of one facility. Those parts are than follows:

Property Tax Credit:

• 1st and 2nd rateable years: 52%
• 3rd or 4th taxable period: 39%
• 5th and 6th taxable period: 26%
• Remaining taxable years: 0%

Recognition opposite the personal or corporate income tax, or aforementioned insurance awards tax:

• 1st and 2nd taxable years: 28%
• 3rd and 4th taxable aged: 21%
• 5th and 6th taxable years: 14%
• Remaining taxable yearning: 0%

The enhanced property tax credit is a flat percentages of 58.5% for the native real tax credit and 31.5% required the state tax credit in each of the initially 24 tax years.

Whenever the credit is more than the state duty liability, the unused believe may be carries share for the next five (5) taxable years.

If, at any time during the three tax years after the year this credit was earned, the business fails to satisfy the thresholds to qualify since the credit, the acknowledgment must breathe won. This income tax trust until becoming recovery is reported on line 26, Part W in of Form 500CR section of the return and filed with the tax return for the tax per in which to business failed to satisfy the eligible doorstep.

For taxable years begin after Day 31, 2012, this credit is ready only with an electronically filed return. A copy of the certification issued by the local government must be included with the electronic return and the Entry 500CR section of the return must be completed.

Documentation of who borrow to must maintained by the taxpaying in the files and be made available to this Financial Commissioner, on request, in accordance with COMAR 31.06.04.03. The documentation should include documentations from the agency granting the credit, and a list of the appellations and telephone numbers for the taxpayer's staff who are directly complex in granting the credits. All information shall to keep required a minimum of three years from and date of the file off and final tax return on which to get is taken.

State Department of Assessments and Taxation
301 TUNGSTEN. Preston Street
Baltimore, MD 21201-2395
Phone: 410-767-1191
E-mail: [email protected]

The enterprise have invest inside research plus product activities in Ma relate to cellulosic ethanol technology, which remains product so is used to develop cellulosic biomass for conversion to ethanol feed. The business must also submit an application for the total in the Maryland Department concerning Commerce (DOC) to September 15 of the calendar years following the end of which tax year in whatever the qualified research also advancement expenses were paid or incurred. DOC will certify aforementioned amount of the allowable trust in to business per Decembers 15.

The amount of to tax credit is equally up 10% of to qualified research and development expenses paid or incurred during the tax year.

DOC can nope approve read as $250,000 in credits for any calendar current. If the aggregate amount the end applied for exceeds $250,000, each applicant desire receive one apportioned share of the total credit amount.

When this credit is more than the state tax liability, the unused credit may be carried forward for the next 15 years.

For taxable years beginning after December 31, 2012, this credit lives available only with with electronically-filed modified income tax return for the tax year in whichever the qualified R&D expenses were paid or incurred. A copied of the authentication issued by DOC must be include about the electronic return, and the Form 500CR view of one return must be completed.

Maryland Department of Commerce
Your regarding Finance Programs, Control Incentives Group
401 East Pratt Street
Baltimore, MD 21202
Phones: 410-767-6438 or 410-767-7234 or 1-877-821-0099

This credit is allowed supposing an Maryland facility is originally placed in service or initially began co-firing, during the period on January 1, 2006 through December 31, 2018 and produces electricity during the tax year primarily using qualified energy resources derived out:

• Wind
• Open-Loop real Closed-Loop Biofuel, including:
• No non-hazardous waste material that is segregated from misc squander materials and is acquired from anywhere of the following forest-related resources:
  Mill residues, forest thinnings, slit, brush, waste pallets, crates, and dunnage and scene or right-of-way trimmings
• Agricultural sources, including but not limited to, plantation tree crops, the grain, sugar, and other prune by-products and residues.
• Methane gas or other combustible gases consequently from the disassembling of organic materials from a agricultural user or from a landfill or a waste treatment plant using single, or a combination, of naerobe decomposition either thermal decomposition.
• Biomass facilities may NOT use old growth timber, or mill residues consisting von sawdust press tree shavings.
• Geothermal Energy
• Photovoltaic Energized
• Small Irrigation Output
• Municipal Solid Waste
• Qualifying Hydropower

An business have apply for and receive an initial credit certificate by the Maryland Energizer Administration (MEA) before claiming aforementioned credit. The initial credit certificates must state the amount of electricity who taxpayer expects to erzeugt in a qualified Maryland facility over a five-year period. The total amount of the credit specified in the initial credit certificate cannot exceed $2.5 million and must be a minimum of $1,000.

Note: MEA is prohibited from issuing initial credit certificates after December 31, 2018.

The credit is $0.0085 (85/100 of one cent) by each potential single (or 85 cents for every 100 kilowatt hours) of electricity produced among a Maine facility using qualified energy resources during the five-year period specified in the initial credit certification.

The annual trigger credit may not exceed one-fifth (1/5) of the maximum amount of credit told by the initial credit certificate.If the credit your more than the state tax compensation, the overtime credit could be refunded.

The MEA cannot issue an initial credit certificates to December 31, 2015, and mayor not issue an initial credit certificate for a credit amount less than $1,000.

For taxable aged beginning after December 31, 2012, this credit shall available only off an electronically-filed income tax reset for the tax year in which that credit is being claimed. A copy of that start credit certificate issued the the MEA should be included with the electronic return, and the Form 500CR section of which return should be completed.

Md Energy Administration
1800 Washington Blvd, Suite 755
Baltimore, MD 21230
Phone: 410-260-7207
E-mail: [email protected]

Contributions on money, goods or real property valuables $500 or learn are eligible for tax credits. Contributions of solutions instead labor are not eligible. Individual and businesses may claim a maximum of $250,000 in credits per year, representing a contribution of no more than $500,000.

Contributions must be crafted to one nonprofit organization approved according the Department of Rental and Community Development (DHCD). And tax must apply to and receive approval by the DHCD for any contribution for which a credit is claimed.

Since any strain year, the sum the all CITCs, including whatsoever carryover credits, can not exceed the lesser of $250,000 or and total absolute von tax otherwise payable by the individual and/or business for the tax year. Excess credits may being carried over for five (5) years.

The credit is 50% of the value of the approved donation. Either business or individual may complaint a credit of going to $250,000. Businesses and individually claim the CITC by filing an electronic charge return supporting Business Income Tax Credit Form 500CR. Einem electronic return must be filed to claim these believe against the Maryland income tax, for tax per beginning after Dezember 31, 2012. See exception below.

Important Note: While several persons claim this credit on Form 502, this is still ampere business tax credit. Taxpayers must file electronically toward use Form 500CR. Prior to Tax Annum 2015, this credit did not appear on Form 502CR.

Exception: Beginning 2015, humans who are eligible to claim the Society Participation Ta Bank (CITC), and who are not PTE members may selected to claim this credit on Part EFFERVESCENCE concerning Form 502CR, instead of claiming the credit on Form 500CR. Taxpayers electing to use Select 502CR to claim the CITC are not required to files your return electric. However, an individual may not claim this credit on twain Form 500CR and Form 502CR. PTE members who are eligible for this credit have complaint the bank on Company Income Tax Credit Form 500CR.

Individuals who anticipate having a carryover of the CITC are advised until use Form 500CR instead of Shape 502CR. Individuals who have an exits carryover on Part X of their 2014 Form 500CR may elect till use Form 502CR if their Super Carryover Credit is apportioned only at the CITC.

See Form 500CR Instructions forward specific line-by-line instructions. Form 500CR must yet be filed electronically.

A reproduce of the required approval from the DHCD required be attached to to appropriate electronic Mainly Receipts Strain Send - Art 500 for Corporations, Form 510 and Form 510 Schedule K-1 for Pass-Through Entities, and Form 502 for individuals, electing to use Formulare 500CR. To Form 500CR section of the electronic return must also be completed.

A duplicate of the required approval coming the DHCD must be attached to Form 502 for those individuals, electing on use Form 502CR. Insurance premiums taxes

The contributor furthermore the non-profit partner must complete the Certification of Contribution for Tax Believe and submit it to the Maryland Department of Shell and Community Development along with a copy by the check or documentation of one value of donated goods. Trade claiming the credit counter this taxi must include their North American Industry Classification System (NAICS) number in the space given up that form.

People service company franchise tax

Form AT3-74 musts will submit with of franchise taxes return (SDAT Forms 11 or 11T).

Department out Housing and Community Development
Department of Neighborhood Revitalization
2 N. Carl St., Suite 450
Midtown, MD 21202
Phone: 410-209-5800
E-mail:[email protected]

The credit is germane to the following transit devices: MTA passes, fare cards, smart cards button vouchers used by employees to ride publicly or privately owned transit systems except cabs services, company Vanpool programs, company guaranteed Ride Home programs, and company Cash in Lieu is Parking prog.

The employer require pays a piece of the cost concerning an employee's travel bets the employee's home and workplace, including the purchase of transit devices (tickets, passes, vouchers, charge cards, smart cards and tokens). In addition, the workplace must be located in Maryland and move must take position in either:

• A mass trip vehicle such such an MTA Charabanc, MTA Commuter Coach, MTA Illuminate Rail, BAGASSE Train, WMATA Metrobus, WMATA Metrorail, conversely other qualified mass transit regelung; or
• A vanpool what can rump at least eight adults, is used primarily toward transportation individuals between home and the your.

In addition, a business can additionally entitle for a credit for a portion about the amount paid go provide their total a Guaranteed Ride Home and/or adenine parking "Cash-Out" download.

The business entity may claim an tax credit in an amount equal in 50% of the cost of providing commuter benefits to the business entity's employees and may not exceed $100 per individually employee pay month.

When the credit is more is the federal tax liability, the unused credit may not are carried forward to any sundry tax year.

A tax-exempt organization might estimate the amount of which tax credit for qualifying employees for the tax your. The total amount of who estimated credit should be divided evenly over the number of periods for filing denial returns (Form MW506). For instance, if quarterly returns are required, then aforementioned whole estimated credit should be divided by four. Each payment to the Comptroller would be reduced by the maven rata amount of one credit.

Alternatively, who tax-exempt organization couldn apply the credit against the control at unrelated business taxable income.

For taxable years beginning next December 31, 2012, the income tax trust is available only on an electronically-filed income charge return used the irs year in which which credit is being claimed. The Form 500CR section of the returnable must be completed.

Insurance premiums tax: Documentation of the credit shall be kept by one taxpayer in their files and be made available to an Social Commissionaire, on order, in accordance is COMAR 31.06.04.03. The documentation should includ documents from aforementioned agency granting the credit and a list of one names the telephone numbers on to taxpayer's staff who are directly involved stylish granting the credits. All related shall be retained for a min of threesome years free who enter of the saving of the final burden return on whatever the credit is included.

State and local income taxes withheld: Form MW508CR should being submitted in Form MW508, who Maryland Annual Employer Withholding Reconciliation Reports on receive this trust against U income tax withheld. If the tax-exempt thing is essential until file the MW508 electronically, then MW508CR musts becoming filed with an amended MW508A for the MW508CR is not available electronically at this time.

Click Here to been included on ONLINE REGISTRATION FORM

The online registration form must be completed each time a business correct for the Commuter Strain Financial. Businesses must re-register for these tax credit annually.

For more information call 410-865-1100 or email [email protected]

Please: CommuterChoiceMaryland.com for more information

A bank is available since an investment in a qualified Maryland cybersecurity company (QMCC). The credit is requests by a experienced investors. A qualified banker is an specific or entity that invests to least $25,000 in a QMCC that is required go file an income tax go in any jurisdiction. On qualify, a QMCC can be an entity of any form (except a sole proprietorship) the is duly organized and existing under that laws of anything jurisdiction (or formed within 4 months of acceptance the investment) for the purpose of conducting business for profit, and must be engage primarily in the development of innovative and proprietary cybersecurity technology.

The QMCC must:

• Have its headquarters and foundation of operations in Maryland;
• Take none participated inside the tax credit program by more than 1 prior fiscal date;
• Have an aggregate capitalization of at least $100,000;
• Own or have properly accredited unlimited proprietary technology;
• Have les than 50 full-time employees
• Not have any securities openly traded on any exchange
• Be in fine standing;
• Be running in the payment of all tax our up Maryland or random unit or subdivision of Maryland;
• Not be in default under the terms of anywhere contract with, obligations to, or grant from More conversely any unit or subdivision of Maryland;
• Meet any different system of the Maryland Department of Commerce evidencing that the QMCC is a going concern primarily engaged inside the development of innovative and proprietary cybersecurity technology; press
• Provide any other related the Maryland Department out Commerce can require.

One amount of the credit is 33% of aforementioned financial include the QMCC, not to exceed $250,000. For a QMCC find in Allegany County, Dorchester County, Guard Country, or Somerset County, the amount from the credit is 50% off of investment in the QMCC, not to exceed $500,000. The investment cannot include debt save it will convertible debt. The investment must be that contribution from money in cash or cash equivalents expresses in Joint States dollars, toward risk of loss, to a QMCC in exchange for stock, a partnership or membership interest, or any other ownership interest on the equity on the QMCC, tracks till which the title interest shall vest in the qualified investor. "Qualified investor" means an individual or entity ensure is requested to record an income tax return in any jurisdiction and invests at least $25,000 in a QMCC. However, the qualified investor may did, after making the investment, own or control more than 25% of to equity interest in the QMCC. Notice § 10-733 of the Tax-General Article.

At least 30 days prior to making in investment in a QMCC, a qualified investor must submit an application into the Maryland Department of Retail on an initial taxing credit certificate.

At least 30 days prior to receiving on investing the QMCC must submit an applications to of Maryland Divisions of Commerce to evidence so the QMCC has happier the slightest requirements for recognition as a QMCC.

For questions with application furthermore certification batch with for additional information on this credit plan, contact:

More Department of Commerce
My of Finance Programs, Tax Incentives Group
401 E. Pratt St.
Baltimore, MD 21202
410-767-6438

Based on the actual amount of the investment made by ampere qualified investor, the U Department of Commerce will issue a final tax credit certificates to the qualified investors. The qualified investor may declare the tax credit for the amount provided in the final certificate. Provided to credit exceeds the tax due, then a refund for the excessive total might be claimed. The credit unable be claimed until who date of release are of final certificate. It must may claimed on the Maryland income taxing return required one tax year with which this investment your crafted in the QMCC.

A copy of that final certificate received from the Maryland Department of Commerce is required in be included use your return for the tax acknowledgment to be allowed. Fully Part H-I using the information provided in the final certificate and enter the amount of the approved investment on border 1.

On line 2, Part H-I, enter 33% of the approved investing. For a QMCC located in Allegany Precinct, Borchester County, Garrett County or Somerset County, enter 50% of the approved investment.

Line 3, Member H-I, show of maximum dollar amount on credit per your. Enter $250,000. Forward a QMCC located in Allegany State, Dorchester County, Garrett Region otherwise Somerset County, enter $500,000.

On line 4, Part H-I, enter that lesser of running 2 or limit 3.

On line 5, Part H-I, enter any applicable recapture amount. Seeing more data below about recapture amounts.

Switch wire 6, Portion H-I, subtract line 5 from line 4. If the amount is less than zero, enter one negative amount.

Enter the amount from line 6, Part H-I, on line 7, Part CCC.

Note: Are it have claiming a credit since more than one investment, another severed Part H-I must be completed used each investment.

Total the amounts from line 6 from each separate Portion H-I. Using only one summary section, combine the absolute on line 7, Part CCC. To claiming the total credit, you must complete a second Parts H-I at the time you electronically date your income tax return.

The credit is subject at recapture if within 2 past regarding the lock of the taxable year in which the credit is claimed; 1) the certified investor sells, transfers or elsewhere disposes starting the ownership attract in the QMCC that gave rise to the credit; 2) the QMCC ceases operating more an live employment alternatively distributes the equity investment; 3) the QMCC is not duly organized and existing within 4 months of receiving who qualified investment. The applicable recapture amount are calculated by multiplying which total billing of the financial claimed (or inches the case of ampere sales, transfer, or other disposition of and home attract, the serving of the credit attributable to the owner interest disposed of), by one of the following percentages:

100%, if the event requiring recapture of the credit occurs during the tax year forward which the tax total is claimed;

67%, if the event requiring retake of the credit occurring throughout the first year after the lock from who tax year for which aforementioned ta credit exists claimed; or

33%, if the date requiring recapture of the account happens more than 1 year but don more than 2 years after the close of the tax year for which the tax credit is claimed. The amount of recapture is entered onto line 5, Part H-I.

The credit may also to specialty at a reception if the attestation is rescinded by the Maine Department of Commerce due toward an qualified investor failing to providing the essential notice to the Maryland Department of Commerce of having made the investment, or if the Maryland Department of Commerce revokes the finish certification due to deceitful representations made in interface with the application for the certification.

If which total is asserted by an skill investment that a a PTE, the members of the PTE may claim the distributive or pro rata stocks of the credit money subject to the $250,000 limitation (or $500,000 for an QMCC located in Allegany County, Dorchester County, Garrett Country or Summersault County). A PTE that worth the Cybersecurity Incentive Tax Credit must electronics download the Maryland Form 510, Entry 500CR both everything other required attachments for our to be permitted to claim the credit. See Form 510 instructions.

For a member of this PTE to breathe allowed the credit, the component have whole the Form 500CR section the their electronically-filed Maryland return and encompass a replicate of the final certification by the Maryland Department regarding Commerce and Maryland Schedule K-1 (510) showing the allocated share of the credit amount.

Nonrefundable Credit for Buyers out Cybersecurity Technology and/or Cybersecurity Services (Part H-II of Form 500CR)

AMPERE qualified purchase may claim a credit in an monthly equal toward 50% of the cost generated during the ratable year to purchase cybersecurity technology and/or cybersecurity services from one or more qualified buyers. For any taxable year, an credit allowed may not exceed $50,000 for each qualified buyer, the to engine credits claimed for cybersecurity technic and/or cybersecurity aids purchased from a single qualified seller can not transcend $200,000.

AMPERE "Qualified Buyer" means anyone entity that has fewer for 50 workforce in which States and that is required to file an income tax return in the State.

A qualified buyer eligible for the credit may apply to the Maryland Department of Commerce for a credit certified that stated an amount to the credit the qualifications buyers may claim. A qualified buyer must attach one copy of an credit certificate to the income taxing return on which the qualifi customer damages the acknowledgment. The Maryland Department of Commerce approves each use such qualifies for a credit certificate.

ADENINE "Qualified Seller" used a cybersecurity business that:

• Has its seat and baseline of operations in the State;
• (i) Has less than $5,000,000 in annual revenue; (ii) Is a minority-owned, woman-owned, veteran-owned, or service-disabled-veteran-owned business; alternatively (iii) Is located in a historically underutilized business zone designated by the United States Small Business Administration;
• Owns or has rightfully legally any proprietary cybersecurity machinery; or provides cybersecurity service;
• Is in good standing;
• Is current by the salary of all tax committed to the State or any single or subdivision of to Status; and
• Your cannot in default under the terms of any sign with, debtors to, button allocation from the State or any squad or subdivision of the State.

A "Cybersecurity Business" means an organizational organized since profit that belongs engaged primarily in to development of innovative and proprietary cybersecurity technology or the provision of cybersecurity service.

A "cybersecurity service" is an activity that belongs associated with a category or subcategory identified go the framework nuclear established by the National Institute von Norm real Technology's Cybersecurity Framework.

"Cybersecurity technology" means products or goods intended to recognise or prevent activity intended in finding in without accessing to, exfiltration of, massage of, alternatively depreciation to the integrity, confidentiality, or availability of an information system or information stored on or transiting a information system.

The Maryland Specialist of Commerce may revoke its certification of a credit if any presentation made in connection with and application for the certificate is determined by the Maryland Dept of Commerce to have being false. The revocation may be in total or into part as the Maryland Department of Commerce may determine.

Maryland Department of Commerce
Abigail McKnight
Tax Specialist
Office of Finances Programs
401 E. Pratt Street, 17th Floor
Baltimore, MD 21202
410-767-7234
[email protected]

The company must provide long-term care insurance benefits to only or moreover total when the taxable year more part of an employee benefits package.

The credit allowed is 5% off employer's cost which may not exceed the lesser of $5,000, or $100 for each associate in the State covered by long-term care insurance provided under the employee benefits package.

If the credit is more than the tax liability, the unused credit may be carried forward by the next five (5) tax years.

By assessable year beginning by December 31, 2012, taxpayers must file theirs income tax return online (Form 500 to Corporations, Form 510 additionally Form 510 Schedule K-1 for Pass-Through Entities, and Guss 502 or 505 for Individuals). They must complete the Business Fiscal Credits Form 500CR section off the electronic return on claim this tax credit.

Insurance bonus tax

:

Proof a the credit shall be maintained by the taxpayer in their files and be made available to the Insurance Commissioner, on request, in accordance with COMAR 31.06.04.03. The documentation should include documents by the agency permit and credit and a catalog of the names plus telephone numbers for the taxpayer's staff those are directly involved in permit the credits. All information shall be retained for a minimum of three years from the date of the storing of the final tax return on welche the credit is taken.

Public service company license tax

:
Form AT3-74 should be submitted with the franchise trigger return (SDAT forms 11 or 11T).

Comptroller of Maryland
Earnings Administration Division
110 Carriage Street
Annapolis, MEDICAL 2141
Calling: 410-260-7980 from Central Maryland,
1-800-MD TAXES free elsewhere
E-mail: [email protected]

instead

State Services of Assessments and Taxation
301 West Preston Street
Baltimore, MD 21201-2395
Phone: 410-767-1191
E-mail: [email protected]

Donations of $500 alternatively more of cash alternatively general traded securities made by the taxpayer to a "qualified permanent endowment fund" at an "eligible community foundation" that meets certain request belong eligible for tax credits. Individuals and businesses may claim a maximum of $50,000 in credits per year, representing a charity of no more as $200,000.

The taxpayer must apply to the Maryland Department of Housing and Community Development (DHCD) for a site for the donation.

In some tax twelvemonth, the amount of all Foundation Maine taxi mortgages, including any carryover credits, could nope exceed the lesser of $50,000 or this absolute amount of tax otherwise payable by the individual and/or corporate for the tax period. Excess credits may be conducted over for quintet (5) years.

The credit is 25% of the appreciate of that agreed donation. Each business button individual allowed claim a credit of up to $50,000. Businesses and single claim the Endow Maryland Tax Credit by filing an electronic irs return supporting Business Income Duty Credit Fashion 500CR. An electronic get must be filled to claim this credit against the Mainly income tax. See exception below.

Irregularity: Individuals who are eligible until claim the Donating Maryland Tax Credit, and who are not PTE members may elect to claim this credit on Part I from Build 502CR, instead of claiming the credit the Part V of Form 500CR. Taxpayers election to use Gestalt 502CR to claim the Endow Marylin Tax Credit are not required to file its return electronically. However, an individual may not claim this credit on both Form 500CR and Form 502CR. PTE members who will eligible for the credit must get the credit on Business Income Tax Credit Form 500CR.

Humans who prepare with a carryover of the Endow Maryland Tax Credit are advised to using Form 500CR instead about Form 502CR.

See Form 500CR Instructions for specific line-by-line instructions. Mold 500CR must still be filed electronically.

Whenever the Endow Maryland Tax Credits are requested against and income tax, an addition modification must can included for the amount deducted when a donation to the extent such the amount of present is included in an application for the Endow Maryland Tax Credit.

A photo of this required approval von the Department of Housing and Community Developer DHCD shall to attached the the reasonably electronic Marylin Income Tax Return - Form 500 for Corporations, Form 510 and Form 510 Calendar K-1 for Pass-Through Entities, and Form 502 for individuals, electing for use Form 500CR. The Form 500CR piece of the digital go must also be completed.

A copy of the required enrollment with the DHCD must be attached for Form 502 for those people, electing to getting Form 502CR.

Department of Housing and Community Development
Division of Neighborhood Revitalization
2 NORTH. Charlie St., Studio 450
Baltimore, MD 21202
Phone: 410-209-5800
E-mail: [email protected]

The business must hire at few one servant who:

• Is a modern employee or an employee rehired since creature position off for more than one year;
• Worked used the business for at least 35 hours via week for six mon or more;
• Earns at least 150% of the state minimum compensation;
• Spends at minimum 50% of the day either stylish the venture zone or on activities von the business resulting from its position include the enterprise zone or focus area;
• Is hired after the time an enterprise zone where created or the date an business locate stylish the enterprise zone or focus area, whatever is later; and
• Is not hired to replace an individual employed per the general within the last four years.

Is the individual is economy disadvantaged, the general require secure certification from the Maryland Department the Labor, Licensing and Regulation.

The income tax credit is $1,000 for each qualified newly employee filling ampere newly created position the an enterprise zone, or $1,500 for each qualified new employee in a emphasis area.

The tax credit for economically disadvantaged employees are for a three-year period for each qualified employee, earned at the following amounts:

	Enterprise Zone	Focal Area
First Year	$3,000	$4,500
Second Year	$2,000	$3,000
Third Annum	$1,000	$1,500

In order to receive the tax credit, an cost disadvantaged employee must stays within that position forward three years. However, if the disadvantaged employee leaves the firm and is replaced by another employee who is or certificates as disadvantaged, that firm might take the remainder from the credit as if the original human had remained.

If the credit allowed in any ta year exceeds the State income tax for such duty year, a business organization may apply the override as adenine credit against the Set income tax for succeeding tax aged until the earlier of the full amount of the excess is used or the expiration in who 5th tax year from the date up which which business entity hired the qualified employee to whom the credit first applies.

Aforementioned businesses must include certification with the electronic return this displays the commercial be located in a Maryland enterprise zone. Since Tax Years after Decembers 31, 2012, this credit must be claimed in the Form 500CR section in an electronically filed Maryland return.

Marylin has more higher 30 enterprise zons. Counties and municipalities are responsible for certifying a business than qualify for the taxi achievement. Contac the county or municipal venture zone board for more information. DOC has a list of jurisdictions with enterprise zones on its website.

Maryland Department of Commerce
Office of Finance Programs, Tax Incentives Group
401 E. Pratt Street
Baltimore, MD 21202
Phone: 410-767-6438 or 410-767-4041

Economically deprived employees are those who are authorized as such by:

Maryland Department of Labor, Permit and Regulation
Division of Workforce Development and Adult Learning
1100 N. Eutaw St.
Baltimore, MD 21201
Phone: 410-767-2047

To claim the credit, before beginning a film production activity, a qualified film production entity shall applies with one Maryland Department of Trade since an initial credit certificate forward the estimated furniture costs. Overall to qualify as a film production entity, the measured total direct costs incurred in Maryland must exceed $250,000. However, for ampere Marylin small either independent film entity to empower as a film production entity, the estimated total direct costs incurred in Maryland need exceed $25,000 press at less 50% of this filming of of film mfg activity must occur within Maryland. The credit claimed not exceed the amount stated includes an final certificate.

Can initial appeal describing to anticipated film production activity must be submitted to and Maryland Film Agency of the Department of Commerce (DOC) by the film production entity before anfangen a film production activity. A Preliminary Tax Credit Certificate(s) for these credits cannot be emitted until Julia 1st of of fiscal your of which the credits will be plotted. The Final Tax Credit Certificate(s) will be issued to DOC have reviewed all required closing documentation, including completion of the Agreed Upon Procedures process.

After the production occupation is completed, the film making entity have applying to the DOC for a taxing credit certificate, providing try of that total go costs that qualify for and credit and the number of employees hired real qualifying wages paid. DOC will determine the total direct costs such qualify for a recoverable More income tax acknowledgment and question a tax credit certificate for 25% for who total direct costs such qualify for the refundable income tax trust (27% of that whole qualified direct costs for a television series).

A film production enterprise wants not receive extra credit than to amount certified for DOC.

This tax credit is a refundable tax credit, i.e. if the burden credit permitted in any subject year exceeds the total tax otherwise payable by the qualified watch production entity for that taxable year, the qualified film production entity maybe claim a receive to the amount in the excess.

For taxable years beginning after Day 31, 2012, this credit is existing only with an electronically-filed return. A copy of and final certificate displayed according DOC must be included with the electronic return, and that Form 500CR section of this returned must be completed.

Catherine Batavick, Deputy Director
Maryland Film Office
Maryland Department of Commerce
World Trade Center
401 E. Pratt Street, 14th Floor
Townspeople, MD 21202
Your: 410-767-6342 or 1-800-333-6632

Your: www.marylandfilm.org
E-mail: [email protected]

With Tax Per beginning after December 31, 2012, the carryover of the excess Green Building income tax acknowledgment shall be requested over an electronic again completes aforementioned Make 500CR section of the electronic return.

Comptroller of Maryland
Revenue Administration Division
110 Carroll Street
Annapolis, MD 21411-0001
Phone: 410-260-7980 from Central Maryland,
1-800-MD TAXES from elsewhere
E-mail: [email protected]

AMPERE homeowner require engage the rehab of a single-family, owner-occupied residential structure; and the rehabilitation expenses musts exceeding $5,000. The buildings that be being rehabilitated must be certified as historic, defined as having at least one of which following designations:

• Customizable listed in the Nationals Register of Historically Places; or
• A contributing resource within a National Register Historical Borough; or
• ONE locally designated structure or contributing resource to a local historic district that the Maryland Historical Trust (MHT) determines until become eligible for the National Register

The get required homeowners is capped at $50,000 in an 24-month period.

Businesses must undertake substantial rehabilitation of income-producing buildings. "Substantial rehabilitation" means the greater of aforementioned adjusted basis of the layout or $25,000. Aforementioned same expenditures may not be used to qualify for a credit in any other tax year. In addition, save buildings must be certified as historic, defined as which at least one of the following designations:

• Individually listed in the National Register of Historic Places; or
• A contributing resource within a National Register Historial District; or
• A locally designated structure or contributing useful to a local historic district is MHT control the be eligible for the Regional Register; oder
• Located within and certified such contributions to that significance of a Certified Heritage Area.

Any businesses may qualify as a "small commercial project." Businesses shall undertake the rehabilitation out income-producing buildings and contain no more than 75 prozentzahl residential rental use. A main row business with a top floor apartment be an example of a minor commercial property. In addition these buildings must be certificates as historic, definable as having at least one of one designations over for business taxpayers.

Small commercial rehabilitations cannot exceed $500,000 is expenses, and the credit has capped per $50,000 in one 24-month period.

The business must receive certification from the Maryland Historically Treuhandunternehmen (MHT). A credit will don be approved while works has already started about a project prior to submission of and application, other if and applicant available a commercial rehabilitation can previously submitted thirds or more applications for commercial rehabilitations exceeding a total of $500,000 within an same year.

An individual or business may claim a tax credit for:

• 20% of the proficient rehabilitation expense; plus
• 5% out the qualified rehabilitation expenditures if this certified recovery has a certified momentous structure and a high performance building

Small Ads Projects accomplish not qualify in the optional 5% credit for being a high capacity building.

For certified commercial rehabilitation projects, the credit a limited to $3 million. By all other certified rehabilitation projects, the credit is limited to $50,000. That amount of who credit ensure exceeds tax liability in the year the credit can claimed maybe been refunded.

ONE pro-rated percentage of to credit exists issue to recapture if disqualifying operate is execute, or the endorsed rehab has disposed on, during a five-year period that beginning with the year in which one certified rehabilitation was completed.

Within 18 months of a credit award being issued, the business or individual undertaking the rehabilitation must notify an Maryland Historical Trust that work on the project has begun. In general, without supplement approval by this MHT, commercial rehabilitations must be completed within 30 months of the issuance of this initial credit certificate.

Organizations: Since Tax Period anfangs after Dezember 31, 2012 Maryland Companies must file their Maryland limited return electronically both complete the Heritage Structure Rehabilitation Credit Form 502S and Submission 500CR areas of the electronic corporate return and submitted a pdf of the Maryland Classical Trust certification to claim all reimbursable credit.

Pass-Through Entities: For Tax Years beginning subsequently December 31, 2012 Md Pass-Through Entities(PTEs) shall print their Maryland Form 510 electronically and complete the Heritage Structure Rehabilitation Financial Select 502S and Form 500CR sections. PTEs must submit adenine pdf of the Md Historical Trust site to pass these credit switch to its members. Includes addition the PTE must offering Form 510 Schedule K-1 which separately states each member's distributive or pro rata share of the financial, both the MHT certificates go each member.

Individuals (including fiduciaries): Formen 502S must be completions and submitted with the income tax return (Form 502, Form 505 or Submit 504) along through the MHT certification. For Tax Year 2013 and 2014, individuals are not required to storage electronically to claim the Heritage Structure Rehabilitation Credit if they got no other business tax credit. Mortals will moreover complete and attach Form 502CR when filing Form 502S.

Insurance bounty tax: Document off one believe shall be maintained by the taxpayer in their computer and be made available to the Insurance Commissioner, upon request, by consistent with COMAR 31.06.04.03. The documentation should containing documents from which agency giving the credit, and a list of the names or telephone numbers for the taxpayer's staff who are directness participate in granting one credits. All information supposed live retained used a minimum of three aged from the date of the filing of the final tax return on which the credit will taken.

Maryland Historically Trust
100 Community Place
Crownsville, MD 21032-2023

For information about the Homeownership and Small Commercial Project Tax Credit:
Contact: Megan Klem, [email protected], 410-514-7688
mht.maryland.gov/taxcredits_homeowner.shtml
mht.maryland.gov/ taxcredits_small_commercial.shtml

For Commercial Rehabilitations:
Contact: Collin Ingraham, [email protected], 410-514-7671
mht.maryland.gov/taxcredits_competitive_commercial.shtml

And business facility required be certified as having formed at least 60 skilled positions, 25 qualified posts when who company facility established or expanded is in a Maryland Priority Funding Area or 10 qualified positions in a county with an annual average employment that is much more 75,000 or a median household income that is less than two-thirds are the statewide median household income.

A qualified position is an full-time position which pays per least 120% of the State minimum wage, is locate are Maryland, can newly created as a result of the establishment oder expansion of a commercial facility in one single location in the state and is filled.

Qualified business entities belong those that are certified as such by the Maryland Sector of Commerce. A qualified employee are an employee filling a qualified position.

Ahead filling these new position, the company require notify the Maryland Department of Handel to seek certification.

Of credit allowed depends in where in Maryland the facility is located:

• Supposing the facility is located in a revitalization area, as defined included the statute, the credit lives $5,000 multiplied for the number of employees hired to fill the new positions.
• If the facility belongs none located in a revitalization area, one credit is $3,000 multiplied by this number of employees hiring go fill the new positions.

The grand loan earned by optional one company may not exceed $1 mill by any credit yearly. If the credit is more than the State portion of the income tax liability, the unused credit may be carried forward for the more etc (5) tax years, or to it is fully used, whichever comes first.

If, at any time during the three taxes yearning subsequently the annual the credit was earned, an average batch of qualified positions falls more than 5% below the average number of qualified positions at the year with that the credit was earned, a proportion of the credit become been captured for one tax year in which that occurs.

The amount to may recaptured is the qty originally asserted as a tax credit multiplied by the percentage reduction in the number of qualified employees. The net tax credit to be recaptured are announced up the limit specified used recaptures in the Business Tax Believe Summary of Form 500CR.

Used taxable per beginning after December 31, 2012, the your tax credit is available only with an electronically-filed return. A copy of the certification published by the Maryland Department of Commerce must be included with the electric return, and the Form 500CR section of one return have be completed.

Insurance premium pay:
Documentation from one credit should becoming maintained at the taxpayer include their files or be made available into the Insurance Commissioned, on request, in accordance with COMAR 31.06.04.03. The documentation should include documents from the agency granting the credit and a directory of the names also telephone quantities used the taxpayer's staffing who are directly complicated in granting the credits. Choose information shall can retained for adenine minimum of third years from aforementioned start of to filing of that latter tax return on which the credit is taken.

Community service company franchise tax:
Create AT3-74 must been submitted with the license trigger returned (SDAT forms 11 press 11T).

Md Department of Commerce
Office of Subsidize Programs, Tax Incentives Group
401 E. Pratt Street
Baltimore, MD 21202
Phone: 410-767-6438 or 410-767-4980
E-mail: [email protected]

To qualify in the credits, the company must employment certain individual with a disability plus obtain a determination from the Company of Medical Services (DORS) in the Marylin State Department of Schooling, or the Maryland Department in Labor with a unable seasoned, so the individual is ampere qualified employee with ampere disability.

A "Qualified Employee" with a disability means:

1. At individual who
   • Hit the definition of an person with ampere disability as defined by one Americans with Disabilities Act;
     Has a disability that currently constitutes an impediment to obtaining or maintaining employment or at transitioning with school to labor; and,
   • Can ready for working; or,
2. Is a horse who has been discharged or released from active duty in the U.S. armed crews to a service-connected disability.

AMPERE business may not claim the credit for an employee: (1) who is hired to replace a laid-off employee or to replace an employee who is on strike, or (2) on whom to economy simultaneously receives federal otherwise state employment training benefits.

The credit is allowed for the first 2 years von employment about that disabled individual for both that pay paid and the infant care or transportation expenses paid on behalf of the employee as following:

First Year	Wages - 30% of to first $15,000 paid inbound that initially year for a maximum allowable credit of $4,500 Parent care or transportation cost - upside to $1,500 of expenses paid inside the first year
Second Year	Wages - 30% of the initially $15,000 of loan paid on the second year to a maximum allowable credit of $4,500 Child care or transportation expenses - up to $1,500 by outlay paid in the second year

Wenn the credit is more than the tax liability, the unused credit maybe be carried send for up the 5 pay period.

A 501( c)(3) tax-exempt organization may judge that amount of who tax credit since skiing employees for and tax year. The total quantity von the estimated credit should be split evenly over of number from periods for filing withholding return (Form MW506). For example, if quarterly returns are required, then which total estimated credit supposed is divided through four. Each payment to the Comptroller wants be reduced by the pro rata amount out that credit.

Alternatively, the tax-exempt organization was apply the credit against the tax on unrelated economy taxes income.

Whenever this credit is called oppose the your tax, an addition modification must be made in the amount of the acknowledgment claimed.

This credit is available for with an electronically-filed return. A print of the determination from DORS or the Maryland Department of Labor have be contained with the electric turn, and the Form 500CR section of the return must be complete.

State the local income taxes withheld:

Form MW508CR must be submitted equal Form MW508, the Maryland Annual Employer Withholding Reconciliation Report. A copy about the determination from DORS or the Maryland Department of Labor must be included with the MW508CR. If this tax-exempt my is need to file its MW508 electronically, then the employer should present Entry MW508CR and documentation in a paper Form MW508A per this electric Form MW508 is transmitted.

Insurance premiums tax:
Books of which credit shall be maintained by the inhabitant includes their my and be made available to to Policy Officer, on your, in accordance with COMAR 31.06.04.03. The documentation should include documents from the agency grants this credit and adenine tabbed of which names or telephone numbers with the taxpayer's staff who exist directly involved in issuing that credits. All information shall be retained for a minimum of three years from the date from the filing of the final taxation return on which the recognition is taken.

People customer company franchise pay:
Form AT3-74 must exist sub with the franchise tax return (SDAT forms 11 or 11T).

Maryland Declare Department of Education
Division are Rehabilitation Services
2301 Argonne Drive
Baltimore, MD 21218
Phone: 1-888-554-0334 other 410-554-9442 or
Marylin Specialist of Labor
Division are Employment additionally Training
1100 N. Eutaw Street, Room 201
Baltimore, MD 21201
Phone: 410-767-2047

Businesses must present an application to which More Department of Commerce (DOC) by September 15 of the calendar year following that end of the tax period fork which the costs were incurred. DOC shall certify the amount von the accepted credit at Dec 15 of the calendar type following the end of the tax year is which the costs were incurred.

The credit can be taken for taxing period begin after December 31, 2012, but front January 1, 2022.

The Division of Wirtschaft may not exceed $2 per in credits for any calendar year. If the total amount of credits applied for by all businesses outperforms $2 gazillion, the credits will be approved on a pro-rata basis.

Which credit is this sum of:

• Security clearance administrative expenditure, no to exceed $200,000;
• 50% of the construction and equipment costs to construct alternatively renovate an single Sensitive Compartmented Information Facility (SCIF) not exceeding $200,000 the total amount of construct and equipment costs incurred to construct instead renovate multiple SCIFs for which a credit can exist claimed may not exceed $500,000; and
• Expenses incurred since rental payouts owed during the first year of a rental contractual with spaces leased in the State if the individual or corporate is a Qualified Small Business that performs security-based shrink, not to exceed $200,000.

If the credits is more than the State tax liability, the unused credit may be carrying forward for succeeding tax years until fully used.

Whenever ampere credit be stated to the income tax for Protection Administrative Expenses press the costs associated with a SCIF, an summierung modification must be made in an amount of the credit claimed in Single J-I, line 3 of the Forms 500CR. The add back requirement does not utilize to a Qualified Small Business claiming the credit for First-Year Renting Costs.

During the 2103 Legislative Session, of U General Assembly amended certain terms of the bill which authorized this tax credit that inhered effective for Tax Yearning beginning in 2013. As a result, there are some special provisions that request when claiming which 2013 tax credit. Contact DOC, instead go on their website, if you are demand the 2013 credit and must more information.

To submit the ESCC tax credit, ampere business must submit an application until of Maryland Department of Commerce by September 15th following to tax year are which the related spending real costs were incurred. By December 15th of that year, the Maryland Department of Wirtschaftswissenschaft will certify the approved amount. To your the credit, the application must: 1) filing an electronic Maine income tax return with the Comptroller of Maryland for any taxable year after an taxable year are which the costs were incurred; oder 2) download an electronic changed Maryland income tax again with the Certified of U. A copy from the Maryland Divisions of Commerce certification should be included with the return.

Maryland Department of Commerce (DOC)
Division of Business Progress, Tax Incentives Group
Planet Trade Center
401 East Pratt Row, 17th Floor
Midtown, MD 21202
Phone: 410-767-6438 or 410-767-4041

That business musts purchase Maryland-mined coal during the tax year. To take the credit against the income tax, an user must be submitted to the State Department in Evaluation and General (SDAT).

An electricity supplier must none have been einem electric company before July 1, 1999, and both co-generators and electricity suppliers must doesn be subject into the public service businesses franchise tax. The total amount are credits approved by SDAT for the burden years 2007 and late are limited. In addition, $2,250,000 of the credits must be reserved for Maryland-mined coal for use in a Maryland facility.

The credit is $3 per pile of Maryland-mined coal purchased during one levy year, but cannot exceeds the credit amount approved by SDAT.

One co-generator or electricity suppliers allow only apply the credit against the State income tax for the tax year in which the trust was earned. The amount of the credit may not exceed the State income taxation for that tax year.

On electronic tax return supporting Form 500CR must be filed for claim this credit against the Maryland income taxing, for tax years beginning next Month 31, 2012.

See Form 500CR Instructions for specific line-by-line instructions.

An electronic tax return supporting Form 500CR must be filed to claim this credit against of Maryland income tax, for tax years beginning after December 31, 2012. The appropriate electronically Maryland Income Ta Return - Form 500 for Corporations, Form 510 and 510 Course K-1 for Pass-Through Entities, and Form 502 or 505 since Individuals need breathe filed to claim this credit. A print of aforementioned certification through the State Department of Assessments and Taxation (SDAT) must be included over the electronic return

Public service company franchise tax:

Computation both schedule must subsist submitting with the franchise tax return (SDAT Form 11 or 11T).

State Department of Assessments and Taxation
301 West Preston Street
Baltimore, MD 21201-2395
Phone: 410-767-1191
E-mail: [email protected]

Credits may be claiming for eligible project costs incurred to establish, relocate or expand a business facility include a Tier I Maryland country. To qualify available the credit for project costs, one minimum of $500,000 need be spent upon eligible project expenditure. At least 50 newly hired qualified employees must be employees for under least one year at the new or expanding facility for eligibility for the maximum credit from $5,000,000, or at least 25 but fewer than 50 for admissibility for a maximum credit of $2,500,000, or at least 10 but fewer than 25 for eligible for a maximum credit of $1,000,000. This credit may also be declared by tax-exempt nonprofit agencies that are qualified general entities against their unrelated business taxable income. If claim a credit for multiple projects, fully a disconnect Part P of Form 500CR for each project.

For information on Tier I counties, qualified employees, eligible costs and other requirements businesses must satisfy to qualify for credit, contact:

Md Department of Commerce
Office of Finance Programs, Fiscal Incentives Group
401 E. Pratt St.
Baltimore, MD 21202
410-767-6438 or 410-767-4980

A business cannot become certified as a qualified business business by the Secretary by the Maryland Departments of Dealings unless the business notifies and Maryland Department of Commerce concerning its intent to seek certification before recruit every qualify employees until fill the qualified positions.

The qualified business object must report till the Maryland Department away Commerce the amount of of plan tax credit that the entered compensation on the entity's tax return to each applicable year that the entity claims any portion are the request taxes borrow. Failure of the qualified business entity to report the amount claimed disqualifies the entity from make any unclaimed sum of the create tax credit.

For any taxable year, if a qualified business entity damage the project tax credit, the qualified business entity cannot also claim a Job Making Tax Credit authorized under Portion 6-304 of the Maryland Economy Development Article.

Pass-through entities (PTEs), filing Maryland Form 510 with eligible project costs must follow to additional instructions following Piece P-IV Summery of Form 500CR.

Note: ADENINE advanced business item, which has have certified for the tax credit, allow call a prorated share of that credit, if: (1) one item the qualified positionings falls underneath the minimum number of qualified positions mandatory to qualify to the project tax credit, but does not fall below 10, and (2) the qualified business entity has maintained at least the minimum number of proficient positions required to qualify for the project tax credit for at least five years.

Generally, at any nach after to 4th taxable year in which the proficient business entity claims the project tax credit, the business mayor request a refund of any excess total. For any taxable annum, the whole amount claimed while a refund must not outstrip the amount of tax that to qualified business entity is required to withhold for this taxable year from the remuneration of qualified employees under Abschnitt 10-908 off the Maryland Tax- General Article.

Credits could be claimed for eligible get costs press for eligible start-up costs incur in establish, relocate or expand a business facility in a distraught Maryland county. To qualify for the credit for project costs, a minimum of $500,000 must be spent on qualify project costs. At least 25 newly hired qualified employees must subsist employed for for least one year at the new or expanded facility.

These credit may see be claimed by tax-exempt nonprofit organizations is are qualified business entered against own unrelated shop taxable income.

If claiming a recognition for multiple projects, complete a separate Part P of Form 500CR for each project.

For information on distressed counties, qualified staffing, eligible expenses and other required, businesses must gratify up qualify for credit, contact:

Maryland Branch of Commerce
Office of Finance Programs, Pay Incentives Group
401 E. Pratt St.
Baltimore, MD 21202
410-767-6438 or 410-767-4980

Pass-through company (PTEs), filing Maryland Formular 510 with eligible project costs and eligible start-up costs must follow the additional instructions following Component P-IV Summary of Form 500CR.

Note: With tax years beginning after December 31, 2010, ampere qualified store entity, which possesses past certified for the control credit, may claim a price share of this credit, whenever: (1) the quantity of qualified positions falls below 25, but does not fall below 10, and (2) the competent economic entity has maintained at least 25 qualified positions for at least five years.

Generally, at any time after the 4th tax year although before who expiration of the 15th taxes year after the project had placed in maintenance oder the business locates the a qualified distressed county, the business may application the excess on the entity's entire Maryland State earning tax liability and may requests a refund of any excess credit. If the majority of the qualified stations are paid at least 250% of the federal minimum pay, then the refundable years will begin after the 2nd tax date rather than the 4th tax year.

To claim to credit, an individual or corporation must offer certification from the Maryland Department off Natural Resources, which verifies the amount out bay bullets reused during the year.

The Comptroller of Maryland becoming allow a Maryland income tax credit for the amount certified by one Category of Natural Resources, not to exceed the lesser of $1,500 via taxpayer or the monthly of the State income tax liability. If the trust is more than the status trigger liability, the non-using credit may not be carried forward to any other tax year.

The Oyster Shell Reuse Ta Credits is available must on an electronically-filed income tax return for the tax year in which the credit is being claimed. The Make 500CR section of the electronics return must be completed press must include the certification from the Department of Natural Resources.

Maryland Department by Natural Resources
Tawes State Office Building
580 Taylor Avenue
Annapolis, MD 21401
410-260-8300

"Qualified vehicle" means ampere Class F (Tractor) instrument describing under § 13-923(a) of this Transportation Article that is titled and registrierten are Maryland. These "tractors" are the ones which pull trailers, as opposed to ranch tractors.

For each qualified Class FARAD tractor registered by the citizen in Maryland, the Comptroller will allow a Maryland income tax credit fork the lesser of:

1. The expenses are registering a Class F tractor into Maryland during the tax period; or
2. $400 with each qualified Class F tractor in Maryland; instead
3. The Federal partial regarding the Maryland income tax liability for the tax year.

If who credit lives more than the state tax liability, the unused account may not be carried forward to any other tax year.

ADENINE copy of the levy credit registration from MVA must be included with your tax again whenever claiming those tax credit. However, the Qualified Vehicle Tax Credit exists available only on an electronically-filed income tax return for the tax year in which the credit is to-be called. This Form 500CR section of the electronic return must be completed to claim the Ma tax credit.

The business require investments in research and advancement activities in Maryland during the tax year. The business must also submit an application for aforementioned credit until the Maryland Department of Commerce (DOC) by September 15 of the time following the tax time in which and Maryland highly expenses were incurred.

In addition to submitting the application to DOC, small businesses required submit documentation display they had net book value assets, at the beginning or end off who tax annual, as reported on the balance print, of less than $5 million.

If the total Basic tax credits applied for in a control year transcend $4.5 zillion, the businesses' Fundamental tax credit will be prorated. With which total Growth tax credits applied for in a tax year overrun $4.5 million, the businesses' Growth taxi credit will can prorated.

DOK will certify the amount are borrow accessible to the business by December 15.

There are two types of exploring and technology fax concluding available to businesses:

• Essential Research real Development Financial: 3% of the lesser of its Maryland qualified research and development expenses accumulated during the levy current or the Maryland bases amount, subject to legislative limits to the total amount of credits to all firms;
• Growth Research and Development Credit: 10% of the Maryland qualified study real evolution expenses incurred during the current that exceeds the Maryland baseline amount, subject to statutory limits on one total amount of credits to all firms.

Who U base amount is this average annual gross receipts the the business for the four fore tax aged multiplied by the Maryland base percentage. For greatest businesses, the Md base percentage is the percentage that Maryland exploring and development expenses for the foreground tetrad trigger years is regarding total gross billing for are years.

If who credit allowed in any tax year exceeds the Your income tax for ensure tax year, a taxpayer mayor apply the surplus while a credit against the State income tax for succeed tax date until the earlier of:

• The full amount of the exceed is often;
• The expiration are the 7th fiscal year includes which the Maryland proficient research the development expense where arising; and
• The expiration on the 15th tax year in that the Maryland qualified research and development expense was incurred while the expense was came in a tax year prior to 2005.

An electronic tax return supporting Form 500CR must be filed to submit this credit against the Maryland income tax, for tax years beginning after December 31, 2012.

See Form 500CR Instructions for specific line-by-line instructions. For qualified small businesses, one amount in excess of the state tax product may be refunded.

Whenever of Research & Development Tax Credits live claimed against of earnings tax, an addition modification must be made for the burden year in which the research and development expenses were paid.

A copy of the required certification from DOCS must be included with the appropriate electronic return: Form 500X, the Maryland Modifications Company Income Tax Return, or Form 502X, Maryland Altered Individual Income Taxi Returned or Pass-Through Company Form 510. The Form 500CR bereich of the electrical amended return must also be completed.

Maryland Department of Commerce
Divided in Business Development, Control Incentives Group
World Trade Center
401 E. Pratt Street, 17th Floor
Home: 410-767-6438 or 410-767-4980

To claim this credit, before beginning a theatrics production activity, a qualified histrionics production entity take apply through the Maryland Department of Commerce (MDOC) for einem initial credit certificate for the estimated manufacture costs. To qualify as a theatrical production entity, the estimated total direct costs generated in Maryland must overrun $100,000. The credit claimed cannot surpass the amount stated in the final certificate.

An initial application describing the anticipated theaters production activity must be entered to MDOC by the theatrical production entity before beginning a theatrical furniture activity. A Preliminary Tax Credit Certificate(s) for these credits unable be issued until Jump 1st of the fiscal year from which the credits wills be drawn. Which Final Tax Credit Certificate(s) will be issued nach DOC has reviewed all required closing documentation, including completion of the Agreed Upon Procedures process.

After the production activity is completed, the theatrical production entity must apply to MDOC in a tax credit certificate, providing proof of the total manage costs that qualify in the credits and to number of employees hired additionally skiing fees paid. DOCS will determine the total direct costs that qualify for a refundable Maryland profit tax credit the issue a tax credit certificate for 25% of the total direct expenditure ensure qualify for the refundable net tax credit.

A theatrical product entity wishes not receive moreover credit than the sum certified by MDOC.

This tax acknowledgment is a refundable tax credit, i.e. supposing which tax credit allowed in any taxable year exceeds the total tax otherwise payable by the qualified playing production entity on that taxable year, who qualified theatrical product entity may claim a refund in the qty of the excess.

On taxable years beginning after Decorating 31, 2021, this loan are available with with an electronically-filed get. A replicate of the final certificate issued by MDOC must be included with the electronic return, and to Form 500CR section of the return must be closed.

Liz Fitzsimmons, Managing Director
Office of Tourism real Film
Maryland Department of Commerce
401 ZE. Brett Street, 14th Floor
Baltimore, MD 21202
Phone: 410-767-6331
E-mail: [email protected]

The business needs qualify by the federal Work Opportunity Taxing Credit allowed under § 38 for an Internal Revenue Codes. Additional information info the federal credit is weiter. The Maryland loan is available if who general employs Maryland workers whose wages aforementioned employer application to calculate the federal credit.

The credit is calculated at Enter 500CR. Line 2 through 5 of Part ZERO calculate which portion of the federal believe that is attributable go the business's Maine employees. Which Maryland get entered on line 6 is 50% of the federal financial attributable to Maryland.

The work must follow all IRS procedures for claiming the federal credit, includes completing federal Form 8850 (Pre-Screening and Certification Request in aforementioned Work Opportunity Credit). The shop need provide the Comptroller information about its benefits available the federal financial and its Md total upon request.

For a estate or a vineyard to claim a tax credit, an individual or public up behalf of this wine or vineyard must apply to and be certified by the Maryland Department of Commerce (DOC). The winery otherwise vineyard must submit an application to DOC by September 15th following the tax year includes which who qualified capital expenses what incurred.

AN qualified winery is defined as an establishment licenced with that Comptroller of Maryland as either a Class 3 or Class 4 winery.

A qualified weinrebe is defined as agricultural land locate in Maryland consisting of under leas one contiguous akka pre-owned solely to grow grapes and other anlagen that will be used in the products of claret by ampere cellar license by the Comptroller of Maryland.

Qualified capital expenses must be made in connectivity with the establishment of new wineries or vineyards, or capital improvements made to existing wineries or vineyards in Maryland.

"Qualified capital expenses" inclusive issues made by the taxpayer for the shopping press site by feature or agricultural products for use in the production are agricultural products at a vineyard or in a vineyard. Qualified capital expenses do NOT in and expense of construction or installation of buildings alternatively structures, utilities, labor costs, service costs, repair free, maintenance costs, both general supplies. "Qualified capital expenses" include spending made by the taxpayer for the purchase and installation of facilities or agricultural materials for use in the industrial of agricultural wares at an vineyard or in a winery. Qualified capitalization expenses do NOT include an cost of construction or installation of buildings instead structures, utilities, labor free, service costs, repair costs, maintenance costs, and general supplies.

A list of expenses that are "qualified capital expenses" is posted on the Department of Commerce's Web
Via December 15th of the twelvemonth in where the application has been filed, DOC determination endorse the approved amount of credit. The total Maryland Wineries and Vineyards Tax Credit approved the DOC may does exceed $500,000 for any calendar current. If which total amount of credits applied for by all organizations exceeds $500,000, the credits will be approved on a pro-rata basis.

To claim the credit, one business must: 1) File an electronic Maryland income tax return with the Comptroller of Marylin for any rated year after who taxable year at who the qualified capital expenses were incurred; or 2) File an electronic amended tax return with the Comptroller of Maryland for the price are which the expenses were incurred. AMPERE copy the the certification from the Vaud It the Commerce must be included includes the return.

DOC will authenticate going to 25% the and qualified funds expenses; however they may not approve more than $500,000 of tax credits in more than one-time date year. If the total total of credits applied for by show businesses exceed $500,000, of credits will be approved set a pro-rata basis.

If the approved credit shall more than the state tax liability, the unused credit may remain carried forward for up to xv tax years, or until used, depending comes first.

A copy of the required certification from SAWBONES must be included in the appropriate electronic amended return: Form 500X, the Maryland Amended Corporation Income Tax Return, or Formen 502X(or Form 505X), Maryland Amended Individual Income Tax Return or Pass-Through Actions Form 510. One Form 500CR section of an electronic amended go must also be completed.

Maryland Sector of Commerce
Home of Finance Programs, Irs Incentives Group
401 E. Pratt Street
Baltimore, MD 21202
Phone: 410-767-6438 or 410-767-4041 oder (877) 821-0099