Md. Code Regs. 09.37.04.06
Current through Register Vol. 51, No. 21, October 18, 2024
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