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 10-717 – For Certified Classroom Teacher or Teacher at State, Local, or Juvenile Correctional Facility
(a) An individual who is a classroom teacher or a teacher at a State or local correctional facility or a juvenile facility listed in § 9–226 of the Human Services Article and who holds a standard professional certificate or an advanced professional certificate may claim a credit against the State income tax for up to $1,500 […]
Section 10-718 – Eligible Long-Term Care Premiums
(a) In this section, “eligible long–term care premiums” means eligible long–term care premiums within the meaning of § 213(d)(10) of the Internal Revenue Code for a long–term care insurance contract covering an individual who is a Maryland resident. (b) An individual may claim a credit against the State income tax in an amount equal to 100% of […]
Section 10-719 – Costs of Energy Storage Systems
(a) (1) In this section the following words have the meanings indicated. (2) “Administration” means the Maryland Energy Administration. (3) “Energy storage system” means a system used to store electrical energy, or mechanical, chemical, or thermal energy that was once electrical energy, for use as electrical energy at a later date or in a process that offsets electricity use […]
Section 10-720 – Electricity Produced From Qualified Energy Resources
(a) (1) In this section the following words have the meanings indicated. (2) “Administration” means the Maryland Energy Administration. (3) (i) Except as provided in subparagraphs (ii) and (iii) of this paragraph, “qualified energy resources” has the meaning stated in § 45(c)(1) of the Internal Revenue Code. (ii) “Qualified energy resources” includes any nonhazardous waste material that is segregated from other […]
Section 10-721 – Qualified Research and Development Expenses
(a) (1) In this section the following words have the meanings indicated. (2) “Department” means the Department of Commerce. (3) “Maryland base amount” means the base amount as defined in § 41(c) of the Internal Revenue Code that is attributable to Maryland, determined by: (i) substituting “Maryland qualified research and development expense” for “qualified research expense”; (ii) substituting “Maryland qualified research […]
Section 10-722 – Green Buildings
(a) (1) In this section the following words have the meanings indicated. (2) “Administration” means the Maryland Energy Administration. (3) (i) “Allowable costs” means amounts properly chargeable to capital account, other than for land, that are paid or incurred on or after July 1, 2001, for: 1. construction or rehabilitation; 2. commissioning costs; 3. interest paid or incurred during the construction or rehabilitation […]
Section 10-723 – Preservation and Conservation Easements
(a) (1) In this section the following words have the meanings indicated. (2) “Department” means the Department of Natural Resources. (3) “Member” means: (i) a shareholder of an S corporation; (ii) a general or limited partner of a partnership, a limited partnership, or a limited liability partnership; (iii) a member of a limited liability company; or (iv) a beneficiary of a business trust […]
Section 10-724 – For Aquaculture Oyster Floats
(a) In this section, “aquaculture oyster float” means a device that is: (1) purchased new; (2) specifically designed for the purpose of growing oysters at or under an individual homeowner’s pier; and (3) constructed to be fully buoyant and facilitate the growth of oysters for the width of the pier. (b) Subject to the limitations of this section, an individual […]