Md. Code Regs. 09.37.04.06

Current through Register Vol. 51, No. 22, November 1, 2024
Section 09.37.04.06 - Carryover of Excess Credit

If the credit allowed to the taxpayer in any taxable year exceeds the total of tax otherwise payable for that taxable year, the business entity may apply the excess as a credit for succeeding taxable years until the full amount of the excess credit is used.

Md. Code Regs. 09.37.04.06

Regulation .06 adopted effective 49:22 Md. R. 979, eff. 10/31/2022