Businesses that Create New Jobs Tax Credit (Maryland)
Last modified on February 12, 2015.
|Applies to States or Provinces||Maryland|
|Name||Businesses that Create New Jobs Tax Credit (Maryland)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
Businesses located in Maryland that create new positions and establish or expand business facilities in the state may be entitled to a Businesses that Create New Jobs Tax Credit. To be eligible, businesses must first have been granted a property tax credit by a local government for creating the new jobs. The credit may be taken against corporate income tax, personal income tax or insurance premium tax. The business must create at least 25 new positions as part of the new or expanded business facility, 5,000 square feet or more, in Maryland.
|Department||Maryland Department of Assessments and Taxation|
|Address||301 W. Preston Street|