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 […]
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 […]