Md. Code Regs. 24.05.24.09

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

Section 24.05.24.09 - Claiming the Tax Credit

A. The same tax credit may not be claimed more than once against different taxes by the same taxpayer.

B. A tax credit may not be claimed against taxes resulting from the sale of the eligible economic development project without the written consent of the Secretary.

C. A tax credit may be claimed only once against a particular eligible economic development project.

D. An organization that is exempt from taxation under § 501(c) (3) or (4) of the Internal Revenue Code may file an income tax return to claim a refund under Tax-General Article, §10-714, Annotated Code of Maryland.

E. An insurer may file for the credit on the insurance premiums tax return form.

Md. Code Regs. 24.05.24.09

Regulation .09D, E adopted effective April 14, 2003 (30:7 Md. R. 489); adopted effective 45:10 Md. R. 503, eff. 5/21/2018