Job Creation Tax Credit (Maryland)

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Last modified on July 9, 2013.

EZFeed Policy

Place Maryland


Applies to States or Provinces Maryland
Name Job Creation 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
Active Policy Yes
Implementing Sector State/Province















Primary Website http://www.choosemaryland.org/businessresources/Pages/JobCreationTaxCredit.aspx





Summary

The Job Creation Tax Credit provides a $1000 tax credit to businesses that create new jobs; the credit is 2.5% of the aggregate annual wages for all newly created full-time positions. This credit is increased to five percent in revitalization zones, up to $1500 per job. Credits may not exceed $1 million per year and may be carried forward for five years. Sixty jobs must be created during a 24-month period. Eligible businesses include public utilities. In a “Priority Funding Area,” a business needs only to create a minimum of 25 new positions.


Policy Contact

Department Maryland Department of Business and Economic Development
Address 401 E. Pratt Street
Place Baltimore, Maryland
Zip/Postal Code 21202
Phone 1.888.Choose.MD
Phone 2 410-767-6300



Authorities (Please contact the if there are any file problems.)

Authority 1: COMAR 24.05.20



Authority 2: Economic Development Article, 6-301 et seq., Annotated Code of Maryland

















References