Maryland R&D Tax Credit Summary

R&D Tax Credit Available

Yes

STATE

Maryland

NAME

Basic R&D Tax Credit and Growth R&D Tax Credit

DOES IT APPLY TO C-CORPS & PASS THROUGHS?

Yes

DESCRIPTION

Two nonrefundable credits (Basic and Growth) with similar definitions as federal for Qualified Research Expenses and Qualified Research Activities except only include Maryland-based expenses.

PERCENTAGE

Credit percentage: 3% on Maryland expenses for Basic Credit.

10% on incremental expenses over base amount for the Growth Credit.