Md. Code Regs. 24.05.20.07

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

Section 24.05.20.07 - Eligible Business Activities

A. To qualify for the tax credit, a qualified business entity shall establish or expand a business facility in the State that is primarily engaged in one or more of the following qualifying activities:

(1) Manufacturing;

(2) Mining;

(3) Transportation;

(4) Communications;

(5) Agriculture;

(6) Forestry;

(7) Fishing;

(8) Research, development, or testing;

(9) Biotechnology;

(10) Computer programming, data processing, or other computer-related services;

(11) Central financial, real estate, or insurance services;

(12) The operation of central administrative offices or a company headquarters;

(13) A public utility;

(14) Warehousing;

(15) Business services, if the business facility established or expanded by the business entity is located in a State priority funding area; or

(16) Operation of entertainment, recreation, cultural, or tourism-related activities in a multiuse facility located within a revitalization area, if the facility:

(a) Generates a minimum of 1,000 new full-time equivalent filled positions in a 24-month period, and

(b) Is not primarily used by a professional sports franchise or for gaming.

B. In determining whether a business facility is engaged in a qualifying activity, the Department shall consider the definitions set forth in the U.S. Department of Labor's Standard Industrial Classification Manual.

Md. Code Regs. 24.05.20.07