Instructions For Maryland Form 502cr - Income Tax Credits For Individuals

INCOME TAX CREDITS

MARYLAND

Page 4

FORM

FOR INDIVIDUALS

502CR

INSTRUCTIONS

2013

prior year.

to another year. No credits may be earned for any tax year

beginning on or after January 1, 2016.

The carryover amount can be found on Part F line 7 of Form

502CR for tax year 2012.

If you have hired qualified employees to work in an HEZ, you

may be entitled to an HEZ Hiring tax credit. This credit is

For additional information, contact the Maryland Environmental

computed on Maryland Business Tax Credit Form 500CR and

Trust at 410-514-7900, , or the

requires DHMH certification. You must file your Maryland income

Maryland Agricultural Land Preservation Foundation at 410-841-

tax return electronically to claim this credit. You may download

5860.

instructions from our website at

PART G – HEALTH ENTERPRISE ZONE PRACTITIONER

PART H - INCOME TAX CREDIT SUMMARY

INCOME TAX CREDIT

This part is to summarize Parts A through G. If the total from Part

If you are a qualified “Health Enterprise Zone (HEZ)

H, line 8 exceeds the state tax, the excess will not be refunded.

Practitioner,” you may be able to claim a credit against

PART I - REFUNDABLE INCOME TAX CREDITS

your State tax liability for income that you earned for

practicing health care in an HEZ. To apply for certification, you

Line 1 NEIGHBORHOOD STABILIZATION CREDIT

must be a health care practitioner who is licensed or certified

If you live in the Hillendale, Northbrook, Pelham Woods

under the Maryland Health Occupations Article, and who

or Taylor/Dartmouth areas of Baltimore County, you

provides:

may qualify for this credit. Credit for homes purchased

1. Primary care, including obstetrics, gynecological services,

in Baltimore County must have been applied for by

pediatric services, or geriatric services;

December 31, 2005.

2. Behavioral health services, including mental health or

After certification by Baltimore County, you may claim

alcohol and substance abuse services; or

an income tax credit equal to the property tax credit

granted by Baltimore County. Enter the amount on Part

3. Dental services.

I, line 1 and attach a copy of the certification.

To be eligible to claim this tax credit, you must:

Line 2 SUSTAINABLE COMMUNITIES TAX CREDIT

1. Be an HEZ practitioner who practices health care in an HEZ

See instructions for Form 502S.

2. Demonstrate competency in cultural, linguistic, and

Line 3 REFUNDABLE BUSINESS INCOME TAX CREDITS

health literacy in a manner determined by the Maryland

Department of Health and Mental Hygiene (DHMH);

NOTE: You must file your income tax

return electronically to claim any of the

3. Accept and provide care for patients enrolled in the

refundable credits listed below:

Maryland Medical Assistance Program and for uninsured

patients;

See Business Tax Credit Form 500CR Instructions

for qualifications for the One Maryland Economic

4. Meet any other criteria required by DHMH to be certified

Development Tax Credit, the Biotechnology Investment

for this credit.

Incentive Tax Credit, the Health Enterprise Zone

Eligibility for this tax credit is limited to funds budgeted.

Hiring Credit, the Small Business Research &

Applicants seeking certification will be approved on a first-come,

Development Tax Credit, the Clean Energy Incentive

first-served basis. To become certified, the HEZ practitioner

Tax Credit and the Film Production Activity Tax Credit.

may apply to the non-profit community organization or local

You may download instructions from our website at

government approved by DHMH.

Go to DHMH website at:

dhmh.maryland.gov for more information.

Line 4 IRC SECTION 1341 REPAYMENT CREDIT

INSTRUCTIONS

If you repaid an amount this year reported as income

Line 1 Enter the amount of taxable net income from your

on a prior year federal return that was greater than

Maryland income tax return (line 20 of Form 502 or line

$3,000, you may be eligible for an IRC Section 1341

13 of Form 505NR).

Repayment credit. Attach documentation. For additional

information, see Administrative Release 40.

Line 2 Enter the amount of State tax from line 22 of Form 502,

or from line 16 of Form 505NR.

Line 5 FLOW-THROUGH NONRESIDENT PTE TAX

Line 3 Enter the amount of income that you earned practicing

If you are the beneficiary of a trust or a Qualified

health care in a Health Enterprise Zone in 2013.

Subchapter S Trust for which nonresident PTE tax was

paid, you may be entitled to a credit for your share of

Line 4 Revised income: Subtract line 3 from line 1. If less than

that tax. Enter the amount on this line and attach both

0, enter 0.

the Form 504 Schedule K-1 for the trust and a copy of

Line 5 Tax on amount on line 4. Compute the Maryland tax

the Form 510 Schedule K-1 issued to the trust by the

that would be due on the revised taxable net income by

PTE.

using the Maryland Tax Table or Computation Worksheet

If you are a member of a PTE for which nonresident

contained in the instructions for Form 502 (Form 505

tax was paid, you may be entitled to a credit for your

and 515 filers should use tax tables or computation

share of that tax. Enter the amount on this line and

worksheet in the Form 505 nonresident instructions.).

attach Form 510 Schedule K-1 issued to you and to the

Do not include the local income tax.

partnership, limited liability company, or S Corporation,

Line 6 Tax credit (Subtract line 5 from line 1) Enter here and

by the PTE.

on Part H, line 7. (If less than 0, enter 0.)

Line 6 Add lines 1 through 5. Enter the total on the appropriate

This credit is limited to the State tax. There is no carryover

line of the income tax form being filed.

COM/RAD-012

13-49

Instructions For Maryland Form 502cr - Income Tax Credits For Individuals - 2013 Page 4

Related Articles

Related forms

Related Categories