reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 2 - Maryland Taxable Income Calculations for Individual › Part IV - Deductions and Tax Preference Items › Section 10-217 - Standard Deduction

(a)    (1)    (i)    Except as otherwise provided in this subsection, an individual may elect to use the standard deduction to compute Maryland taxable income whether or not the individual itemizes deductions on the individual’s federal income tax return in determining federal taxable income.
(ii)    If an individual elects to use the standard deduction on the federal income tax return, the individual may not take any itemized deduction in § 10–218 of this subtitle.
(2)    A fiduciary may not use the standard deduction.
(b)    Subject to the limitation in subsection (c) of this section, the standard deduction for an individual is an amount equal to 15% of the individual’s Maryland adjusted gross income.
(c)    (1)    For an individual other than one described in paragraphs (2) and (3) of this subsection, the standard deduction:
(i)    may not be less than $1,500; and
(ii)    may not exceed $2,250.
(2)    For an individual described in § 2 of the Internal Revenue Code as a head of household or as a surviving spouse, the standard deduction:
(i)    may not be less than $3,000; and
(ii)    may not exceed $4,500.
(3)    For spouses on a joint return, the standard deduction:
(i)    may not be less than $3,000; and
(ii)    may not exceed $4,500.
(d)    (1)    For each taxable year beginning after December 31, 2018, each minimum and maximum standard deduction limitation amount specified in subsection (c) of this section shall be increased by an amount equal to the product of multiplying the minimum and maximum standard deduction limitation amount by the cost–of–living adjustment specified in this subsection.
(2)    For purposes of this subsection, the cost–of–living adjustment is the cost–of–living adjustment within the meaning of § 1(f)(3) of the Internal Revenue Code for the calendar year in which a taxable year begins, as determined by the Comptroller, by substituting “calendar year 2017” for “calendar year 2016” in § 1(f)(3)(A) of the Internal Revenue Code.
(3)    If any increase determined under paragraph (1) of this subsection is not a multiple of $50, the increase shall be rounded down to the next lowest multiple of $50.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 2 - Maryland Taxable Income Calculations for Individual › Part IV - Deductions and Tax Preference Items › Section 10-218 - Itemized Deductions -- in General

(a)    Only an individual who itemizes deductions on the individual’s federal income tax return may elect to itemize deductions on the individual’s income tax return.
(b)    An individual who elects to itemize deductions is allowed as a deduction the sum of the individual’s federal itemized deductions:
(1)    limited and reduced as required under the Internal Revenue Code;
(2)    further reduced by any amount deducted under § 170 of the Internal Revenue Code for contributions of a preservation or conservation easement for which a credit is claimed under § 10-723 of this title; and
(3)    further reduced by the amount claimed as taxes on income paid to a state or political subdivision of a state, after subtracting a pro rata portion of the reduction to itemized deductions required under § 68 of the Internal Revenue Code.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 2 - Maryland Taxable Income Calculations for Individual › Part IV - Deductions and Tax Preference Items › Section 10-219 - Itemized Deductions -- Limitation for Nonresident

(a)    A nonresident may claim and shall include only the part attributable to Maryland, as determined under this section, of:
(1)    the subtractions from federal adjusted gross income under § 10-208 of this subtitle;
(2)    the deduction for exemptions under § 10-211 or § 10-212 of this subtitle; and
(3)    (i)    the standard deduction under § 10-217 of this subtitle; or
(ii)    itemized deductions under § 10-218 of this subtitle.
(b)    Unless the Comptroller requires or allows another method to compute the items listed in subsection (a) of this section, a nonresident shall prorate the items using a fraction:
(1)    the numerator of which is the Maryland adjusted gross income of the nonresident; and
(2)    the denominator of which is the federal adjusted gross income of the nonresident.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 2 - Maryland Taxable Income Calculations for Individual › Part IV - Deductions and Tax Preference Items › Section 10-220 - Itemized Deductions -- Limitation for Part-Year Resident

(a)    An individual who is a resident of the State for only a part of the taxable year may claim and shall include only the part attributable to Maryland, as determined under this section, of:
(1)    the additions to federal adjusted gross income under § 10-204 of this subtitle;
(2)    the subtractions from federal adjusted gross income under §§ 10-207 through 10-209 of this subtitle;
(3)    the deduction for exemptions under § 10-211 or § 10-212 of this subtitle; and
(4)    (i)    the standard deduction under § 10-217 of this subtitle; or
(ii)    itemized deductions under § 10-218 of this subtitle.
(b)    Unless the Comptroller requires or allows another method to compute the items listed in subsection (a) of this section, an individual who is a resident for only a part of the taxable year shall prorate the items using a fraction:
(1)    the numerator of which is the number of months in which the individual was a resident; and
(2)    the denominator of which is 12.
(c)    An individual who is a resident for a period of more than 15 days in a month is deemed to be a resident for the full month.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 2 - Maryland Taxable Income Calculations for Individual › Part IV - Deductions and Tax Preference Items › Section 10-222 - Tax Preference Items

(a)    In this section, “tax preference items” mean the items that:
(1)    total more than $10,000 for an individual return or $20,000 for a joint return;
(2)    are defined under § 57 of the Internal Revenue Code;
(3)    are modified and apportioned under § 59 of the Internal Revenue Code; and
(4)    are further modified by excluding:
(i)    the oil percentage depletion allowance claimed under § 613 or § 613A of the Internal Revenue Code; and
(ii)    interest described in § 57(a)(5) of the Internal Revenue Code, if the interest is attributable to obligations of:
1.    the State of Maryland;
2.    a political subdivision or authority of the State; or
3.    any other entity authorized under Maryland law to issue obligations the interest on which is excluded from gross income under § 103 of the Internal Revenue Code.
(b)    Each shareholder of an S corporation shall report the shareholder’s pro rata share of the tax preference items of the corporation.
(c)    (1)    A nonresident shall include as tax preference items only those items that are based on income taxable in the State.
(2)    If the tax preference items are based on income derived both in and out of the State, the nonresident shall include only a fraction:
(i)    the numerator of which is the dollar amount of the tax preference items based on income taxable in the State; and
(ii)    the denominator of which is the total dollar amount of the tax preference items.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 2 - Maryland Taxable Income Calculations for Individual › Part IV - Deductions and Tax Preference Items › Section 10-223 - Collection and Compilation of Data Regarding Elements of Tax and Impact

(a)    Beginning with individual tax returns for the 1986 tax year, and for all subsequent tax years, the Comptroller shall collect and compile information from income tax returns regarding the various elements of the State income tax and, for the State and for each county and the City of Baltimore, the impact of those various elements on various classes of Maryland taxpayers and on revenues.
(b)    The data base shall be comprehensive and shall include the following:
(1)    component items of federal adjusted gross income, including loss items and preference income;
(2)    components of itemized deductions;
(3)    components of Maryland addition and subtraction modifications; and
(4)    the number of taxpayers reporting each of the elements contained in items (1), (2), and (3) of this subsection.
(c)    On or before January 1 of the second year after returns are received for a tax year, the Comptroller shall submit to the Governor and, subject to § 2-1257 of the State Government Article, the President of the Senate and the Speaker of the House of Delegates a report providing the information compiled for that tax year.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-304 - In General

Except as provided in Subtitle 4 of this title, the Maryland modified income of a corporation, including a real estate investment trust or regulated investment company, is:
(1)    the corporation’s federal taxable income for the taxable year as determined under the Internal Revenue Code and as adjusted under this Part II of this subtitle;
(2)    if the corporation is exempt from taxation under § 501 of the Internal Revenue Code, the sum for the taxable year of the corporation’s unrelated business taxable income, as defined under § 512 of the Internal Revenue Code, and its income that is subject to tax under § 527(f)(1) of the Internal Revenue Code, as adjusted under this Part II of this subtitle;
(3)    if the corporation is an S corporation, its income that is subject to federal income tax, for the taxable year, as adjusted under this Part II of this subtitle; or
(4)    if the corporation is an investment conduit or a special exempt entity, the applicable tax base of the corporation as adjusted under this Part II of this subtitle.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-305 - Additions to Federal Taxable Income -- Addbacks of Federal Adjustments

(a)    To the extent excluded from federal taxable income, the amounts under this section are added to the federal taxable income of a corporation to determine Maryland modified income.
(b)    The addition under subsection (a) of this section includes the net capital loss carryback, as defined in § 1212 of the Internal Revenue Code.
(c)    The addition under subsection (a) of this section includes any taxes based on net income that are imposed by any state or by a political subdivision of any state.
(d)    The addition under subsection (a) of this section includes the additions required for an individual under:
(1)    § 10–204(b) of this title (Dividends and interest from another state or local obligation);
(2)    § 10–204(c)(2) of this title (Federal tax–exempt income);
(3)    § 10–204(e) of this title (Oil percentage depletion allowance);
(4)    § 10–204(i) of this title (Deduction for qualified production activities income);
(5)    § 10–204(j) of this title (Deduction for costs for security clearance administrative expenses and construction and equipment costs incurred to construct or renovate a sensitive compartmented information facility); and
(6)    § 10–204(l) of this title (Deduction for donations to qualified permanent endowment funds).
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-306 - Additions to Federal Taxable Income -- State Adjustments

(a)    In addition to the modification under § 10–305 of this subtitle, the amounts under this section are added to the federal taxable income of a corporation to determine Maryland modified income.
(b)    The addition under subsection (a) of this section includes the additions required for an individual under:
(1)    § 10–205(b) of this title (Enterprise zone wage credit, employment opportunity credit, disability credit, and qualified ex–felon employee credit);
(2)    § 10–205(c) of this title (Reforestation and timber stand modification);
(3)    § 10–205(e) of this title (Net operating loss modification);
(4)    § 10–205(g) of this title (Unlicensed child care facility operating expenses);
(5)    § 10–205(i) of this title (Maryland research and development tax credit); and
(6)    § 10–205(m) of this title (Credit for share of taxes paid by pass–through entities).
(c)    Repealed.
(d)    Repealed.
(e)    Repealed.
(f)    The addition under subsection (a) of this section includes the amount of a credit claimed under § 10–726 of this title for research and development expenses for cellulosic ethanol technology.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-306.2 - Captive Real Estate Investment Trusts

(a)    In this section:
(1)    “captive REIT” means a corporation, trust, or association:
(i)    that is considered a real estate investment trust for the taxable year under § 856 of the Internal Revenue Code;
(ii)    that is not regularly traded on an established securities market; and
(iii)    more than 50% of the voting power or value of the beneficial interests or shares of which, at any time during the last half of the taxable year, is owned or controlled, directly or indirectly, by a single entity that is subject to the provisions of Subchapter C of Chapter 1 of the Internal Revenue Code; and
(2)    “captive REIT” does not include:
(i)    a corporation, trust, or association more than 50% of the voting power or value of the beneficial interests or shares of which, at any time during which the corporation, trust, or association satisfies item (1)(iii) of this subsection, is owned or controlled, directly or indirectly, by:
1.    a real estate investment trust other than a real estate investment trust described in item (1) of this subsection;
2.    a person exempt from taxation under § 501 of the Internal Revenue Code; or
3.    a listed Australian property trust; or
(ii)    subject to regulations that the Comptroller adopts, a real estate investment trust that is intended to become regularly traded on an established securities market and that satisfies the requirements of § 856(a)(5) and (6) of the Internal Revenue Code by reason of § 856(h)(2) of the Internal Revenue Code.
(b)    In addition to the modifications under §§ 10–305 through 10–306.1 of this subtitle, an amount equal to the amount of the dividends paid deduction allowed under the Internal Revenue Code for the taxable year is added to federal taxable income to determine the Maryland modified income of a captive REIT.
(c)    For purposes of this section, the constructive ownership rules prescribed under § 318(a) of the Internal Revenue Code, as modified by § 856(d)(5) of the Internal Revenue Code, shall apply in determining the ownership of stock, assets, or net profits of any person.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-307 - Subtractions From Federal Taxable Income

(a)    To the extent included in federal taxable income, the amounts under this section are subtracted from the federal taxable income of a corporation to determine Maryland modified income.
(b)    The subtraction under subsection (a) of this section includes the amount included in the income of a domestic corporation claiming a foreign tax credit as dividends under § 78 of the Internal Revenue Code.
(c)    The subtraction under subsection (a) of this section includes the percentage of the dividends received from an affiliated domestic international sales corporation equal to the percentage that would be excluded if the corporation did not qualify under § 992(a) of the Internal Revenue Code.
(d)    The subtraction under subsection (a) of this section includes dividends received from a corporation if:
(1)    the receiving corporation owns, directly or indirectly, 50% or more of the paying corporation’s outstanding shares of capital stock; and
(2)    the paying corporation is organized under the laws of a foreign government.
(e)    Repealed.
(f)    The subtraction under subsection (a) of this section includes interest attributable to an obligation of the United States or an instrumentality of the United States.
(g)    The subtraction under subsection (a) of this section includes the amounts allowed to be subtracted for an individual under:
(1)    § 10–207(i) of this title (Profits on sale or exchange of State or local bonds);
(2)    § 10–207(k) of this title (Relocation and assistance payments);
(3)    § 10–207(m) of this title (State or local income tax refunds);
(4)    § 10–207(c–1) of this title (State tax–exempt interest from mutual funds);
(5)    § 10–207(hh) of this title (Gain on the transfer of property within the Laurel Park site or Pimlico site or Bowie Race Course Training Center property and income recognized as result of governmental expenditures); or
(6)    § 10–207(jj) of this title (Coronavirus relief payments).
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-308 - Additional Subtractions. [Effective Until July 1, 2024]

(a)    In addition to the modification under § 10–307 of this subtitle, the amounts under this section are subtracted from the federal taxable income of a corporation to determine Maryland modified income.
(b)    The subtraction under subsection (a) of this section includes the amounts allowed to be subtracted for an individual under:
(1)    § 10–208(d) of this title (Enhanced agricultural management equipment expenses);
(2)    § 10–208(i) of this title (Reforestation or timber stand expenses);
(3)    § 10–208(k) of this title (Wage expenses for targeted jobs);
(4)    § 10–208(p) of this title (Elevator handrails in health care facilities); and
(5)    § 10–208(bb) of this title (Trade or business expenses of medical cannabis grower, processor, dispensary, or any other cannabis establishment).
(c)    In the case of a regulated investment company, the subtraction under subsection (a) of this section includes an amount equal to the exempt–interest dividends paid by the company that are attributable to amounts received by the company that are included in the addition modification for dividends and interest from state or local obligations of another state under § 10–305(d)(1) of this subtitle.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-309 - Electricity and Gas Companies

(a)    In addition to the modifications under §§ 10-307 and 10-308 of this subtitle, the amounts under this section are subtracted from federal taxable income to determine Maryland modified income of a public service company engaged in an electric or gas business if the public service company was subject to the public service company franchise tax on December 31, 1999.
(b)    The gain or loss realized by a public service company on the sale, retirement, or other taxable disposition or transfer of assets used in its electric or gas business shall be adjusted in an amount equal to the difference between the adjusted basis of the assets as recorded on the books of the public service company and the adjusted basis of the assets for federal income tax purposes calculated as of January 1, 2000.
(c)    If the adjustment determined under subsection (b) of this section results in a subtraction that exceeds Maryland modified income computed without regard to the subtraction under this section, the amount of the excess may be carried forward to succeeding taxable years and used to reduce Maryland modified income in each succeeding taxable year until the excess is fully used.
(d)    The modifications under this section shall continue to apply to assets transferred under a reorganization within the meaning of § 368(a) of the Internal Revenue Code or on the organization of a corporation principally in consideration for the issuance of its stock.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 3 - Maryland Taxable Income Calculations for Corporation › Part II - Maryland Modified Income › Section 10-310 - Additional Modifications

In addition to the modifications under §§ 10-305 through 10-309 of this subtitle, to determine Maryland modified income the federal taxable income of a corporation shall be adjusted as provided for an individual under § 10-210.1 of this title.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 4 - Special Treatment of Income › Section 10-401 - Allocation of Income -- for Nonresident

In computing the adjustments under §§ 10-206 and 10-210 of this title, a nonresident shall allocate to the State income, losses, or adjustments derived in connection with a business that is carried on both in and out of the State and of which the nonresident is a partner, shareholder of an S corporation, or proprietor, or in connection with an occupation, profession, or trade carried on both in and out of the State by:
(1)    separate accounting, if the Comptroller allows; or
(2)    the method that the Comptroller requires to determine fairly the part of the income derived from or reasonably attributable to the trade, business, profession, or occupation carried on in the State.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 4 - Special Treatment of Income › Section 10-403 - Allocation of Interest Received by Financial Institution From Subsidiary

(a)    (1)    In this section the following words have the meanings indicated.
(2)    (i)    “Financial institution” means:
1.    a credit company;
2.    except as provided in subparagraph (ii)1 of this paragraph, a finance company;
3.    an international banking facility;
4.    a loan company;
5.    a mortgage company;
6.    a safe-deposit company; and
7.    a savings and loan association.
(ii)    “Financial institution” does not include:
1.    a finance company that makes loans only to farmers for agricultural purposes;
2.    a company licensed under the federal Small Business Investment Act of 1958;
3.    a corporation that elects to be taxed as a small business corporation under Subchapter S of the Internal Revenue Code;
4.    an entity that is a real estate mortgage investment conduit as defined in the Internal Revenue Code;
5.    a limited liability company; or
6.    a commercial bank, savings bank, trust company, or company that substantially competes with national banks in the State.
(3)    “Financial institution holding company” means a financial institution whose only activities are:
(i)    the maintenance and management of intangible investments; and
(ii)    the collection and distribution of income from intangible investments.
(b)    Notwithstanding § 10-402 of this subtitle, interest received by a financial institution holding company from one of its subsidiary corporations that is a financial institution shall be allocated to this State only to the extent that the interest is derived from the trade or business of the subsidiary corporation within this State.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 5 - Accounting Period › Section 10-502 - When Federal Return Not Filed

(a)    If a person does not file a federal income tax return, the person shall compute Maryland taxable income in accordance with the cash or accrual accounting method that:
(1)    the person uses to compute income regularly in keeping the person’s books; or
(2)    the Comptroller requires to reflect clearly the person’s income.
(b)    If a person does not file a federal income tax return, the person shall compute Maryland taxable income:
(1)    for the calendar year; or
(2)    if the person keeps adequate records for an annual fiscal year accounting period, for the fiscal year.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 5 - Accounting Period › Section 10-504 - Changing Accounting Period

(a)    A person may change the accounting period used to compute Maryland taxable income to any other period that the Comptroller approves.
(b)    If a person changes accounting periods, the person shall file a separate return for the period between the close of the previous accounting period and the beginning of the newly adopted accounting period.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 6 - Tax Computation › Section 10-601 - Computation of State Income Tax -- in General

Except as provided in § 10–105(d) of this title and except as otherwise provided in this subtitle, a person shall compute the State income tax by applying the tax rates in § 10–105 of this title to Maryland taxable income.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 6 - Tax Computation › Section 10-603 - Computation of State Income Tax -- in Year of Rate Change

Unless an act that changes the State income tax rate provides otherwise, if the rate changes on a date other than the 1st day of the taxable year of a person, the person shall compute State income tax using the tax rate that applies to each part of the year.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › Section 10-701.1 - For Tax Paid Under 10-102.1 of This Title

A member of a pass–through entity may claim a credit against the income tax for a taxable year in the amount of tax paid by a pass–through entity under § 10–102.1 of this title that is attributable to the member’s share of the pass–through entity’s taxable income, as defined in § 10–102.1(a)(8) of this title.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › Section 10-703 - For Tax Paid by Resident to Another State

(a)    In this section, “member” and “pass–through entity” have the meanings stated in § 10–102.1 of this title.
(b)    Except as provided in subsection (c) of this section, a resident may claim a credit against the income tax for a taxable year in the amount determined under subsection (d) of this section for State tax on income paid to another state for the year.
(c)    A credit under subsection (b) of this section is not allowed to:
(1)    a resident other than a fiduciary, if the laws of the other state allow the resident a credit for State income tax paid to this State;
(2)    a resident fiduciary, if the fiduciary claims, and the other state allows, a credit for State income tax paid to this State;
(3)    a resident for less than the full taxable year for tax on income that is paid to another state during residency in that state; or
(4)    a nonresident.
(d)    (1)    Except as provided in paragraph (2) of this subsection and subject to subsection (e) of this section, the credit allowed a resident under subsection (b) of this section is the lesser of:
(i)    the amount of allowable tax on income that the resident paid to another state; or
(ii)    an amount that does not reduce the income tax to an amount less than would be payable if the income subjected to tax in the other state were disregarded.
(2)    If the credit allowed a resident under subsection (b) of this section is based on tax that a pass–through entity pays to another state, the credit allowable to a member of the pass–through entity:
(i)    may not exceed that member’s pro rata share of the tax; and
(ii)    will be allowed for another state’s income taxes or taxes based on income.
(e)    (1)    The amount of the credit allowed under subsection (b) of this section to be applied against the State income tax is equal to the amount that would be calculated under subsection (d) of this section using the State income tax rate as the only applicable rate.
(2)    The amount of the credit allowed under subsection (b) of this section to be applied against the county income tax is equal to the amount calculated under subsection (d) of this section less the amount calculated under paragraph (1) of this subsection.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › Section 10-703.2 - Gains From Installment Sale of Property in Another State

(a)    In this section, “installment sale” has the meaning stated in § 453(b) of the Internal Revenue Code.
(b)    A credit against the State income tax in the amount determined under subsection (c) of this section may be claimed by a resident who recognizes income for the current taxable year for federal income tax purposes from an installment sale of property located in a state other than Maryland if:
(1)    the disposition of the property occurred in an earlier taxable year; and
(2)    the taxpayer paid state tax on income for the earlier taxable year to the state where the property was located on the income that for federal income tax purposes is recognized in the current taxable year.
(c)    The amount of the credit allowed under this section is equal to the income recognized for federal income tax purposes for the current year on which state income tax was paid to another state in an earlier year, as described in subsection (b)(2) of this section, multiplied by the lesser of:
(1)    the rate of tax imposed by the other state on the income described in subsection (b)(2) of this section; or
(2)    the maximum rate of Maryland State income tax.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › Section 10-704.1 - For Purchase of Maryland-Mined Coal

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Cogenerator” means a qualifying cogenerator or qualifying small power producer as determined by the Federal Energy Regulatory Commission under the Public Utility Regulatory Policies Act of 1978.
(3)    “Electricity supplier” has the meaning stated in § 1–101 of the Public Utilities Article.
(b)    This section does not apply to:
(1)    a cogenerator or electricity supplier that is subject to the public service company franchise tax; or
(2)    an electricity supplier that, before July 1, 1999, was not an electric company as defined in § 1–101 of the Public Utilities Article as in effect on June 30, 1999, unless the electricity supplier is an affiliate of such an electric company.
(c)    Subject to the limitations in § 8–406(b)(2) of this article, a cogenerator or electricity supplier may claim a credit against the State income tax in the amount of $3 for each ton of Maryland–mined coal that the cogenerator or electricity supplier purchased in the taxable year.
(d)    (1)    A cogenerator or electricity supplier may only apply the credit against the State income tax for the taxable year in which the credit was earned.
(2)    The amount of the credit may not exceed the State income tax for that taxable year.
(3)    The total amount of credits approved under this section shall be subject to the limitations in § 8–406(b)(2)(iv), (v), and (vi) of this article.
(e)    A cogenerator or electricity supplier shall submit an application in accordance with § 8–406(b)(2)(iii) of this article in order to claim the credit available under this section.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › Section 10-704.5 - For Certified Rehabilitation

(a)    An individual or corporation may claim a credit against the State income tax for a certified rehabilitation as provided under § 5A-303 of the State Finance and Procurement Article.
(b)    An individual or corporation that is not otherwise required to file an income tax return, including a corporation exempt from income tax under § 501(c)(3) of the Internal Revenue Code:
(1)    may file a return to claim a refund of the credit under this section; and
(2)    shall file a return if the individual or corporation is subject to the recapture of the credit under this section as provided under § 5A-303 of the State Finance and Procurement Article.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › Section 10-704.7 - For Wages, Child Care, and Transportation for Qualified Employees With Disabilities

(a)    An individual or a corporation may claim a credit against the income 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 provided or paid for by the business entity for a qualified employee with a disability as provided under § 21–309 of the Education Article.
(b)    (1)    An organization that is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code may apply the credit under this section:
(i)    as a credit against income tax due on unrelated business taxable income as provided under §§ 10–304 and 10–812 of this title; or
(ii)    as a credit for the payment to the Comptroller of taxes that the organization:
1.    is required to withhold from the wages of employees under § 10–908 of this title; and
2.    is required to pay to the Comptroller under § 10–906(a) of this title.
(2)    If the credit allowed under this subsection in any taxable year exceeds the sum of the State income tax otherwise payable by the organization for that taxable year and the taxes that the organization has withheld from the wages of employees and is required to pay to the Comptroller under § 10–906(a) of this title for the taxable year, the organization may apply the excess as a credit under paragraph (1)(i) or (ii) of this subsection in succeeding taxable years for the carryforward period provided in § 21–309 of the Education Article.
(3)    The Comptroller shall adopt regulations to provide procedures for claiming and applying credits authorized under paragraph (1)(ii) of this subsection.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › 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 State income tax only.
(2)    A credit allowed under § 10-704(a)(2) or § 10-709(b)(2) of this subtitle is allowed against the county income tax only.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › 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 Tax - Property Article.
(b)    The credit shall equal the amount of the property tax credit granted for property tax paid under § 9-317(e), § 9-318(d), or § 9-326 of the Tax - Property Article.
(c)    If the credit allowed under this section in any taxable year exceeds the State income tax for that taxable year, calculated before application of the credits under this section and §§ 10-701 and 10-701.1 of this subtitle, but after application of the other credits allowable under this subtitle, the excess of the credit shall be refunded.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › 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 individual’s spouse if they file a joint income tax return:
(i)    whose federal adjusted gross income as modified under §§ 10–204 through 10–206 of this title does not exceed the applicable poverty income level;
(ii)    whose earned income as defined under § 32(c)(2) of the Internal Revenue Code does not exceed the applicable poverty income level;
(iii)    who is not claimed as an exemption on another individual’s tax return under § 10–211 of this title; and
(iv)    for whom the credit allowed under § 10–704(a)(1) of this subtitle is less than the State income tax.
(4)    “Poverty income standard” means the most recent poverty income guideline published by the United States Department of Health and Human Services, available as of July 1 of the taxable year.
(b)    (1)    An eligible low income taxpayer may claim a credit against the State income tax for a taxable year in the amount determined under subsection (c) of this section.
(2)    An eligible low income taxpayer may claim a credit against the county income tax for a taxable year in the amount determined under subsection (d) of this section.
(c)    Except as provided in subsection (e) of this section, the credit allowed against the State income tax under subsection (b)(1) of this section equals the lesser of:
(1)    the State income tax determined after subtracting the credit allowed under § 10–704(b)(1) of this subtitle; or
(2)    an amount equal to 5% of the eligible low income taxpayer’s earned income, as defined under § 32(c)(2) of the Internal Revenue Code.
(d)    Except as provided in subsection (e) of this section, the credit allowed against the county income tax under subsection (b)(2) of this section equals the lesser of:
(1)    the county income tax determined after subtracting the credit allowed under § 10–704(c) of this subtitle; or
(2)    an amount equal to the county income tax rate multiplied times the eligible low income taxpayer’s earned income, as defined under § 32(c)(2) of the Internal Revenue Code.
(e)    Of the amount determined under subsection (c) or subsection (d) of this section, an individual who is a nonresident or is a resident of the State for only a part of the year is allowed only a fraction:
(1)    the numerator of which is the individual’s Maryland adjusted gross income; and
(2)    the denominator of which is the individual’s federal adjusted gross income.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › 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 insurance as part of an employee benefit package.
(2)    The credit allowed under this section may not exceed the lesser of:
(i)    $5,000; or
(ii)    $100 for each employee in the State covered by long-term care insurance provided under the employee benefit package.
(c)    (1)    An individual or corporation may apply the credit under subsection (b) of this section against the State income tax.
(2)    An organization that is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code may apply the credit under this section against State income tax due on unrelated business taxable income as provided under §§ 10-304 and 10-812 of this title.
(d)    (1)    If the employer is subject to more than one tax against which the credit allowed under this section may be applied, the same credit may not be applied more than once against different taxes.
(2)    If the credit allowed under this subsection in any taxable year exceeds the total tax otherwise payable by the employer for that taxable year, the employer may apply the excess as a credit for succeeding taxable years until the earlier of:
(i)    the full amount of the excess is used; or
(ii)    the expiration of the 5th taxable year after the taxable year in which the costs to provide long-term care insurance as part of an employee benefit package were incurred.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › 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 under this section as a credit for the payment to the Comptroller of taxes that the organization:
(1)    is required to withhold from the wages of employees under § 10-908 of this title; and
(2)    is required to pay to the Comptroller under § 10-906(a) of this title.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › 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 of tuition paid by the individual during the taxable year for graduate level courses required to maintain certification if the individual:
(1)    successfully completes the courses with a grade of B or better;
(2)    is employed by a county board of education, a State or local correctional facility, or a juvenile facility listed in § 9–226 of the Human Services Article;
(3)    teaches in a public school, a State or local correctional facility, or a juvenile facility listed in § 9–226 of the Human Services Article and receives a satisfactory performance evaluation for that teaching; and
(4)    has not been reimbursed by the State or a county for the tuition paid.
(b)    (1)    If a county, the State or local correctional facility, or a juvenile facility listed in § 9–226 of the Human Services Article partially reimburses an individual for tuition paid, the individual may claim a tax credit allowed under this section for the balance of the tuition not paid by the county or the State.
(2)    The credit allowed under this section may not exceed the State income tax for that taxable year, calculated before the application of the credits allowed under this section and §§ 10–701 and 10–701.1 of this subtitle but after the application of the other credits allowable under this subtitle.
(3)    The unused amount of the credit for any taxable year may not be carried over to any other taxable year.
2023 Maryland Statutes › Tax - General › Title 10 - Income Tax › Subtitle 7 - Income Tax Credits › 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 the eligible long–term care premiums paid by the individual during the taxable year for long–term care insurance covering the individual or the individual’s spouse, parent, stepparent, child, or stepchild.
(c)    The credit allowed under this section:
(1)    may not exceed $500 for each insured covered by long–term care insurance for which the individual pays the premiums;
(2)    may not be claimed by more than one taxpayer with respect to the same insured individual; and
(3)    may not be claimed with respect to an insured individual if:
(i)    the insured individual was covered by long–term care insurance at any time before July 1, 2000; or
(ii)    the credit has been claimed with respect to that insured individual by any taxpayer for any prior taxable year.
(d)    (1)    The total amount of the credit allowed under this section for any taxable year may not exceed the State income tax for that taxable year, calculated before application of the credits under this section and §§ 10–701 and 10–701.1 of this subtitle, but after application of the other credits allowable under this subtitle.
(2)    The unused amount of the credit for any taxable year may not be carried over to any other taxable year.
(e)    The credit allowed under this section does not affect the treatment under this title of any deduction or exclusion allowed for federal income tax purposes for the eligible long–term care premiums paid by the individual.
(f)    On or before December 1, 2005, and each December 1 thereafter, the Comptroller shall report to the Governor and, subject to § 2–1257 of the State Government Article, to the General Assembly, regarding the credit allowed under this section, including:
(1)    the number of individuals who have claimed the credit, the amount allowed as credits, and the additional number of individuals covered by long–term care insurance as a result of the credit; and
(2)    the savings under the State’s Medical Assistance Program as a result of additional individuals being covered by long–term care insurance as a result of the credit.