Section 8-215 – Credit for Neighborhood and Community Assistance
A financial institution may claim a credit against the financial institution franchise tax for neighborhood and community assistance contributions as provided under § 6-404 of the Housing and Community Development Article.
Section 8-216 – Credit for Wages, Child Care, and Transportation for Employees With Disabilities
A financial institution may claim a credit against the financial institution franchise tax for: (1) wages paid to a qualified employee with a disability; and (2) (i) child care provided or paid for by a business entity for the children of a qualified employee with a disability as provided under § 21–309 of the Education Article; or (ii) transportation […]
Section 8-217 – Credit for Businesses That Create Jobs
A financial institution may claim a State tax credit against the financial institution franchise tax payable under this subtitle as provided under § 9-230 of the Tax – Property Article.
Section 8-218 – Credit for Employer-Provided Long-Term Care Insurance
A financial institution may claim a credit against the financial institution franchise tax for employer-provided long-term care insurance as provided under § 10-710 of this article.
Section 8-220 – One Maryland Economic Development Tax Credits
A financial institution may claim a credit against the financial institution franchise tax for One Maryland project costs and start–up costs as provided under Title 6, Subtitle 4 of the Economic Development Article.
Section 8-221 – Credit for Commuter Benefit Costs
A financial institution may claim a credit against the financial institution franchise tax for the cost of providing commuter benefits to the business entity’s employees as provided under § 2-901 of the Environment Article.
Section 8-205 – Taxable Net Earnings — International Banking Facilities
(a) (1) In this section the following words have the meanings indicated. (2) (i) “Foreign person” means: 1. an individual who is not a resident of the United States; 2. a company, partnership, or trust that is not organized under the laws of the United States or of a state; and 3. a foreign branch of a company organized under the laws […]
Section 8-206 – Taxable Net Earnings — Allocation
(a) In computing taxable net earnings, a financial institution with net earnings derived outside the State shall allocate its net earnings, in the manner that the Department requires, based on the gross volume of the transactions of the financial institution inside and outside the State. (b) In computing taxable net earnings, a financial institution shall include only […]
Section 8-207 – Tax Credit — for Estimated Taxes
A financial institution may claim a credit against the financial institution franchise tax equal to the estimated tax paid under § 8-210(b) of this subtitle.
Section 8-208 – Tax Credit — for Tax Paid to Other State
A savings bank or savings and loan association doing business outside this State may claim a credit against the financial institution franchise tax equal to the amount paid to another jurisdiction as: (1) a tax based on savings accounts or saving share accounts bought in this State; (2) a tax on gross receipts from business done in […]