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 […]
Section 10-705 – Evidence of Entitlement Required
To be allowed a credit under this subtitle, a person shall submit to the Comptroller satisfactory evidence that the person is entitled to the credit.
Section 10-724.1 – Oyster Shell Recycling
// EFFECTIVE UNTIL JUNE 30, 2023 PER CHAPTERS 603 AND 604 OF 2018 // (a) (1) Subject to the limitations of this section, an individual or a corporation may claim a credit against the State income tax in an amount equal to $5 for each bushel of oyster shells recycled during the taxable year. (2) An individual or […]
Section 10-706 – Effect of Credit on County and State Income Tax Computation
(a) Except as otherwise provided in this section, a credit allowed under this subtitle is allowed against the State income tax only. (b) A credit under § 10-701 of this subtitle is allowed against the total county and State income taxes. (c) (1) A credit allowed under § 10-704(a)(1) or § 10-709(b)(1) of this subtitle is allowed against the […]
Section 10-725 – Biotechnology Investment Incentive Tax Credit
(a) (1) In this section the following words have the meanings indicated. (2) “Biotechnology company” means a company organized for profit that is primarily engaged in, or within 2 months will be primarily engaged in, the research, development, or commercialization of innovative and proprietary technology that comprises, interacts with, or analyzes biological material including biomolecules (DNA, RNA, or […]
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 […]