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Tax Break Tracker Individual Entry

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.

Effected JurisdictionMaryland
Jurisdiction type: State
Fiscal year ending In2022
Program nameCybersecurity Invest Incent Tax Credit
Program purpose: Technology (cybersecurity)
Statutory authority: Annotated Code of Maryland Tax General Article Section 10-733
Abating jurisdiction(s): State of Maryland
Applicable taxesCorporate Income Tax; Personal Income Tax
Method of abatement: Tax Credit
Provisions for recapture: The provision for recapturing abated taxes requires the cybersecurity company to repay a prorated share of the credit claimed if within 2 years it ceases to operate as an active business with its headquarters and base of operations in Maryland.
Gross revenue loss: $346,473
Reimbursement / offset: $0
Net revenue loss: $346,473
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.marylandtaxes.gov/forms/CAFR/ACFR2022.pdf