Form 500cr - Income Tax Credits - 2011 Page 12
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19Part D - Summary Add lines 4 and 8 and enter total on line 9. The
not claim a credit for an employee who is hired to replace a laid-
total credit will be taken over a two-year period. One-half of the credit
off employee or an employee who is on strike, or for which the
will be allowed each year. The amount allowed for any credit year
business simultaneously receives federal or state employment
cannot exceed $1,000,000.
training benefits.
No credits may be earned for any tax year beginning on or after
A credit is allowed for each qualified ex-felon for a two-year period
January 1, 2014.
beginning with the first year the employee was qualified. The credit
for each qualified employee hired is equal to 30% of the first $6,000
NOTE: A copy of the certification from the Department of Business
of qualified first year wages and 20% of the first $6,000 of qualified
and Economic Development must be included with Form 500CR.
second year wages.
PART E - COMMUNITY INVESTMENT TAX CREDIT
The employer can not claim the credit until employment has
Businesses or individuals who contribute to approved Community
continued for at least one full year unless the employee: (a)
Investment Programs may be eligible for a credit against the state
voluntarily leaves the employer; (b) becomes disabled or death
income tax. Contributions must be made to a nonprofit organization
occurs or; (c) is terminated for cause. The credit must be prorated
approved by the Department of Housing and Community
for the portion of the year the employee worked unless the employee
Development. The taxpayer must apply to and receive approval by
voluntarily left to take another job.
the Department of Housing and Community Development for each
Whenever a Long-term Employment of Qualified Ex-Felons Tax
contribution for which a credit is claimed. The credit is limited to
Credit is claimed against the income tax, an addition modification
50% of the approved contributions (including real property) not to
must be made in the amount of the credit claimed.
exceed $250,000.
For further information, contact:
For further information contact:
Maryland Department of Labor, Licensing and Regulation
Department of Housing and Community Development
Division of Employment and Training
100 Community Place
1100 N. Eutaw Street
Crownsville, MD 21032-2023
Baltimore, MD 21201
410-514-7241
410-767-2047
Note: A copy of the required approval from the Department of
PART H - WORK-BASED LEARNING PROGRAM
Housing and Community Development must be included with Form
CREDIT
500CR.
A credit is allowed for wages paid to each student employee under
PART F - BUSINESSES THAT CREATE NEW JOBS TAX
an approved paid work-based learning program. The credit is 15% of
CREDIT
the wages paid to each student not to exceed a cumulative amount
of $1,500 per student for the duration of the program.
To qualify, businesses must be located in Maryland and create new
positions or establish or expand business facilities in the state. If a
For further information on qualified students and the requirements,
property tax credit (or an enhanced property tax credit) as defined
employers must meet to qualify, contact:
in Section 9-230 of the Tax-Property Article is granted by the Mayor
Maryland State Department of Education
and City Council of Baltimore City or the governing body of a county
Division of Career Technology and Adult Learning
or municipal corporation, certain businesses may be entitled to an
200 W. Baltimore St.
income tax credit.
Baltimore, MD 21201
These credits are based on percentages of the property tax liability
410-767-0182
as certified by the State Department of Assessments and Taxation.
wbltaxcredit@msd.state.md.us
Enter the certified amount on lines 1 or 2 as applicable.
This credit is allowed for wages paid after 12/31/2008.
Recapture Provision If, at any time during the three tax years
NOTE: A copy of the certification from the Maryland State
after the year the credit was earned, the business fails to satisfy the
Department of Education must be included with Form 500CR.
thresholds to qualify for the credit, the credit must be recaptured. The
income tax credit to be recaptured is reported on line 26, Part W of
PART I - EMPLOYER-PROVIDED LONG-TERM CARE
Form 500CR and filed with the tax return for the tax year in which
INSURANCE TAX CREDIT
the business failed to satisfy the applicable thresholds.
A credit is allowed for premiums paid by employers to provide long-
For further information contact:
term care insurance to their employees as part of their benefits
State Department of Assessments and Taxation
package. The employer may claim a credit of 5% of the premiums
301 W. Preston Street
paid during the tax year or $100 for each Maryland employee covered
Baltimore, MD 21201-2395
by long-term care insurance provided, whichever is less, but cannot
410-767-1191
be more than $5,000.
taxcredits@dat.state.md.us
PART J - TELECOMMUNICATIONS PROPERTY TAX
CREDIT
PART G - LONG-TERM EMPLOYMENT OF QUALIFIED
EX-FELONS TAX CREDIT (for employees hired from 1/1/07
A credit is allowed for a public utility that is a telecommunications
through 12/31/2011)
company equal to 60% of the total property taxes paid on its
A credit is allowed to businesses that hire qualified ex-felons under
operating real property in Maryland, other than operating land, used
a program approved by Maryland Department of Labor, Licensing
in the telecommunications business. This credit is applied after all
and Regulation. This credit may not be claimed if the Employment
other credits.
Opportunity Tax Credit or Maryland Disability Employment Tax Credit
Whenever a Telecommunications Property Tax Credit is claimed
has been claimed for that employee.
against the income tax, an addition modification must be made in
A qualified employee is a “qualified ex-felon” in accordance with
the amount of the credit claimed.
Section 51(d)(4) of the Internal Revenue Code. A business may
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