Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State: | Maryland |
| Effected Jurisdiction: | Maryland |
Jurisdiction type: | State |
| Fiscal year ending In: | 2022 |
| Program name: | Biotechnology Investment Incentive Tax Credit |
| Program purpose: | Technology (biotech) |
| Statutory authority: | Annotated Code of Maryland, Tax General, Section 10-725 |
| Abating jurisdiction(s): | State of Maryland |
| Applicable taxes: | Corporate Income Tax; Personal Property Tax |
| Method of abatement: | Tax Credit |
| Provisions for recapture: | If within 2 years after the close of the tax year for which the credit was claimed the investor sells, transfers of disposes or its ownership interest or if the company ceases to have its headquarters and base of operations in Maryland, the credit must be recaptured on the investors’ Maryland income tax return. |
| Gross revenue loss: | $4,900,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $4,900,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.marylandtaxes.gov/forms/CAFR/ACFR2022.pdf |
