Form 500cr - Income Tax Credits - 2011 Page 14
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19shares of the credit amount subject to the $250,000 limitation. A
Maryland Energy Administration
PTE that earned the Biotechnology Investment Incentive Tax Credit
60 West St., Suite 300
Annapolis, MD 21401
must file the Maryland Form 510, Form 500CR and all other required
attachments in order for the members to be permitted to claim the
410-260-7655
credit. See Form 510 instructions. In order for a member of the PTE
Note: A copy of the certification by the Maryland Energy Administration
to be allowed the credit, the member must attach to the filed Maryland
must be included with Form 500CR.
return the following: a completed Form 500CR; copies of the final
certification from DBED and statement of affidavit; and Schedule
PART O - MARYLAND-MINED COAL TAX CREDIT
K-1 or other statement showing the allocated share of credit amount.
A credit is allowed for a qualified cogenerator, small power producer
or an electricity supplier (as defined under §1-101 of the Public
PART M - COMMUTER TAX CREDIT
Utilities Article) for the purchase of Maryland-mined coal. An electricity
A credit is allowed for businesses that conduct or operate a trade
supplier may not have been a public utility before July 1, 1999. A
or business in Maryland and provide commuter benefits for their
cogenerator or an electricity supplier must not be subject to the public
employees.
service company franchise tax.
The business must pay a portion of the cost of travel between the
The credit is $3 for each ton of Maryland-mined coal purchased in
employee’s home and the workplace. Qualified commuter benefits
the current tax year.
include the cost of transit instruments (tickets, passes, vouchers,
The amount of this credit must be certified by the State Department
fare cards, smartcards and tokens) used to transport an employee
of Assessments and Taxation.
of the business to or from home and the workplace. The portion of
the cost an employer pays to provide a “Guaranteed Ride Home”
For further information contact:
program or for a parking “Cash-Out” program for their employees
State Department of Assessments and Taxation
also are qualified commuter benefits.
301 W. Preston Street
Travel must be on a qualified mass transit vehicle or system, or in a
Baltimore, MD 21201-2395
vanpool. The vanpool vehicle must seat at least 8 adults and be used
410-767-1940
primarily to transport employees between home and the workplace.
taxcredits@dat.state.md.us
The credit is the lesser of 50% of the cost of providing commuter
Note: A copy of the certification by the State Department of
benefits or $50 per month for each employee.
Assessments and Taxation must be included with Form 500CR.
For more information contact:
PART P - ONE MARYLAND ECONOMIC DEVELOPMENT
Mass Transit Administration, Marketing Division
TAX CREDIT
6 St. Paul Street, 3rd Floor
Baltimore, MD 21202-1614
General requirements Credits may be claimed for eligible project
410-767-8755
costs and for eligible start-up costs incurred to establish, relocate or
expand a business facility in a distressed Maryland county. In order
to qualify for the credit for project costs, a minimum of $500,000 must
PART N - CLEAN ENERGY INCENTIVE TAX CREDIT
be spent on eligible project costs. At least 25 newly hired qualified
employees must be employed for at least one year at the new or
This credit is allowed if a Maryland facility is originally placed in
expanded facility. This credit may also be claimed by tax-exempt
service, or that initially began co-firing, during the period of 1/1/2006
nonprofit organizations.
through 12/31/2015 and produces electricity during the tax year
primarily using qualified energy resources derived from:
If claiming a credit for multiple projects, complete a separate Part
• Wind
P for each project.
• Open and Closed Loop Biomass
• Geothermal
For information on distressed counties, qualified employees, eligible
costs, and other requirements businesses must satisfy to qualify for
• Solar
credit, contact:
• Small Irrigation
Maryland Department of Business and Economic Development
• Municipal Solid Waste
401 E. Pratt St.
• Qualified Hydropower
Baltimore, MD 21202
410-767-6438 or 410-767-4980
The credit is 0.85 cents for each kilowatt hour of electricity produced
at a Maryland facility using qualified energy resources during the
Pass-through entities (PTEs), filing Maryland Form 510, with eligible
five-year period specified in the initial credit certificate. If the facility
project costs and eligible start-up costs must follow the additional
produces electricity from qualified energy resources co-fired with
instructions following Part P – IV Summary.
coal, the credit is 0.5 cents for each kilowatt hour of electricity
produced during the five-year period, specified in the initial credit
NOTE. For tax years beginning before January 1, 2011, a qualified
certificate.
business entity may carry over excess tax credit to a succeeding tax
You must obtain an initial credit certificate from Maryland Energy
year if during the succeeding tax year, the qualified business entity
continues to employ at least 25 qualified employees at the project.
Administration before claiming this Clean Energy Incentive Tax
Credit.
For taxable years beginning after December 31, 2010, a qualified
business entity, which has been certified for the tax credit, may claim
The credit claimed each year can not exceed one-fifth of the
a prorated share of this credit, if: (1) the number of qualified positions
maximum amount stated in the initial credit certificate. If the credit
falls below 25, but does not fall below 10, and (2) the qualified
amount exceeds the tax due, then a refund for the excess amount
business entity has maintained at least 25 qualified positions for at
may be claimed.
least five years.
For information concerning qualifications for the credit, contact the
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