Income Tax – Research and Development Tax Credit – Alterations

Bill Number:  HB1450

Bill Sponsor(s):  Delegate Kaiser

Subject:  Ways and Means

Bill Summary:

Increasing from $12 million to $14 million the total amount of research and development tax credits that the Department of Commerce may approve in a calendar year; requiring the Department to make available 25% of the total amount of credits that the Department may approve in a calendar year to small businesses; providing for the use of certain unused credits; altering the definition of “small business”; applying the Act to all Maryland research and development credits certified after December 15, 2017; etc.

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