Md. Code Regs. 24.05.19.02

Current through Register Vol. 51, No. 24, December 2, 2024

Section 24.05.19.02 - Calculation of Tax Credit

A. A tax credit is allowed for a taxable year beginning after December 31, 2012 but before January 1, 2018.

B. A taxpayer may claim credits against the State income tax in an amount equal to 25 percent of the qualified capital expenses made in connection with:

(1) The establishment of new wineries or vineyards; or

(2) The capital improvements to existing wineries or vineyards.

Md. Code Regs. 24.05.19.02

Effective date: 41:2 Md. R. 92, eff.2/3/2014