Section 10-707 – For Residential Real Estate Property Tax
(a) An individual may claim a credit against the State income tax for a taxable year in the amount specified in subsection (b) of this section for property tax paid in that taxable year for owner-occupied, residential real property that is granted a property tax credit under § 9-317(e), § 9-318(d), or § 9-326 of the […]
Section 10-726 – Cellulosic Ethanol Technology
(a) (1) In this section the following words have the meanings indicated. (2) “Cellulosic ethanol technology” means technology that is used to develop cellulosic biomass for conversion to ethanol fuel. (3) “Department” means the Department of Commerce. (4) “Qualified research and development expenses” means expenses paid or incurred for cellulosic ethanol technology research and development that is conducted in the […]
Section 10-709 – Low Income Tax Credit
(a) (1) In this section the following words have the meanings indicated. (2) “Applicable poverty income level” means the amount specified in the poverty income standard that corresponds to the number of exemptions which the individual is allowed and claims under § 10–211(b)(1) of this title. (3) “Eligible low income taxpayer” means an individual, or an individual and the […]
Section 10-730 – Film Production Activity Tax Credit
(a) (1) In this section the following words have the meanings indicated. (2) “Department” means the Department of Commerce. (3) (i) “Film production activity” means: 1. the production of a film or video project that is intended for nationwide commercial distribution; and 2. for a television series, each season of the television series. (ii) “Film production activity” includes the production of: 1. a feature […]
Section 10-710 – For Long-Term Care Insurance
(a) In this section, “long-term care insurance” has the meaning stated in § 18-101 of the Insurance Article. (b) (1) Subject to the limitation under paragraph (2) of this subsection, an employer may claim a tax credit in an amount equal to 5% of the costs incurred by the employer during the taxable year to provide long-term care […]
Section 10-714 – One Maryland Economic Development Tax Credits
An individual or corporation may claim a credit against the State income tax for One Maryland project costs and start–up costs as provided under Title 6, Subtitle 4 of the Economic Development Article.
Section 10-715 – For Providing Employee Commuter Benefits
(a) An individual or corporation may claim a credit against the State income tax for the cost of providing commuter benefits to the business entity’s employees as provided under § 2-901 of the Environment Article. (b) An organization that is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code may apply the credit […]
Section 10-716 – For Child Care or Dependent Care
(a) (1) In this section the following words have the meanings indicated. (2) “Federal child and dependent care credit” means the child and dependent care credit properly claimed by an individual for the taxable year under § 21 of the Internal Revenue Code. (3) “Qualifying individual” means a qualifying individual within the meaning of § 21(b) of the Internal […]
Section 10-703.2 – Gains From Installment Sale of Property in Another State
(a) In this section, “installment sale” has the meaning stated in § 453(b) of the Internal Revenue Code. (b) A credit against the State income tax in the amount determined under subsection (c) of this section may be claimed by a resident who recognizes income for the current taxable year for federal income tax purposes from an […]
Section 10-704 – For Earned Income
(a) (1) A resident may claim a credit against the State income tax for a taxable year in the amount determined under subsection (b) of this section for earned income. (2) A resident may claim a credit against the county income tax for a taxable year in the amount determined under subsection (c) of this section for earned […]