Md. Code Regs. 24.05.24.05

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

Section 24.05.24.05 - Eligible Business Activities

A. To qualify for a 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) Filmmaking;

(6) Resort/recreational business (excluding adult entertainment);

(7) Agriculture;

(8) Forestry;

(9) Fishing;

(10) Research, development, or testing;

(11) Biotechnology;

(12) Computer programming, information technology, or other computer-related services;

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

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

(15) A public utility;

(16) Warehousing; or

(17) Business services.

B. In determining whether a business facility is engaged in a qualifying activity, the Department may consider the definitions set forth in the U.S. Office of Management and Budget's Standard North American Industrial Classification Manual.

Md. Code Regs. 24.05.24.05

Regulations .05 adopted effective 45:10 Md. R. 503, eff. 5/21/2018