Form 500cr - Income Tax Credits - 2011 Page 17
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19The PTE member (the member of the qualified business entity) must
meainfo@energy.state.md.us
limit the amounts claimed for the project credit and startup credit
Note: A copy of the certification by the Maryland Energy
to the allocable or pro-rata portion of the PTE’s taxable income as
Administration must be included with Form 500CR.
reported on Schedule K-1.
PART S - CELLULOSIC ETHANOL TECHNOLOGY
The PTE member computes the tax on the member’s share of
RESEARCH AND DEVELOPMENT TAX CREDIT
the PTE’s Maryland taxable income (line 1) using the highest rate
actually used on the member’s return and enter the result on line
An individual or corporation may claim a credit against the State
6. The PTE member will then enter on line 7 that portion of line 6
income tax in an amount equal to 10% of the qualified research and
which is attributable to the member’s share of project taxable income.
development (R&D) expenses paid or incurred by the individual
The tax on non-project income on line 8a is calculated by taking the
or corporation during the taxable year. By September 15 of the
tax calculated on line 7a, prorating it further on line 7b, and then
calendar year following the end of the taxable year in which the
subtracting line 7b from line 6; if the amount on line 8a is less than
expenses were paid or incurred, an individual or corporation shall
zero, enter zero. Line 8a is also further prorated by the factor on
submit an application to the Department of Business and Economic
line 4b, to arrive at line 8b.
Development (DBED) for the credit allowed; by December 15 of the
same calendar year, DBED shall certify to the individual or corporation
All amounts entered in Section C of Part P-I, should reflect the PTE
the amount of the tax credit approved. The total amount of credits
member’s share of items as reported on the Schedule K-1.
approved by DBED for any calendar year may not exceed $250,000.
To claim the approved credit, an individual or corporation shall file
For Parts P-II, P-III, and P-IV, the PTE member should follow the
an amended income tax return for the taxable year in which the
preceding instructions for the respective parts.
qualified R&D expenses were paid or incurred. The individual or
NOTE: The member must attach a copy of the PTE’s final credit
corporation must attach a copy of the DBED certification of the
approved credit amount to the amended income tax return. Any
certification to claim the credit.
credit in excess of the State income tax may be carried forward
PART Q - GREEN BUILDING TAX CREDIT
to succeeding taxable years until the earlier of the full amount of
the excess is used, or the expiration of the 15th taxable year after
A credit is available for the construction or rehabilitation of a building
the taxable year in which the qualified R&D expenses were paid or
that conforms to specific standards intended to save energy and
incurred.
to mitigate environmental impact. The total amount of the credits
certified for all taxpayers each year (calendar years 2003 through
Whenever this credit is claimed against the income tax, an addition
2011) is limited. Credits are allowed for amounts spent on or after
modification must be made in the amount of the credit claimed.
July 1, 2001.
No credits may be earned for any tax year beginning on or after
The newly constructed or rehabilitated building must be located in a
January 1, 2017.
priority funding area or qualified “brownfields” site. If a rehabilitated
For more information, contact:
building is not located in these areas, the building’s square footage
may not increase by more than 25%.
Maryland Department of Business and Economic Development
401 E. Pratt St.
A copy of the initial credit certificate and a copy of an eligibility
Baltimore, MD 21202
certificate issued by an architect or engineer must be included with
410-767-4980
the Form 500CR. The final certificate that will certify the maximum
amount of credit available and the tax year it may be taken will provide
satisfactory evidence that the taxpayer is entitled to the credit and
PART T - JOB CREATION AND RECOVERY TAX CREDIT
must also be submitted.
(For Job Creation Tax Credit – See Part D.)
For additional information, contact:
General Requirements: A credit is available to businesses that
Maryland Energy Administration
operate or conduct business in Maryland that hire certain workers
60 West St., Suite 300
for newly-created or certain vacant positions in the State.
Annapolis MD 21401
The amount of the tax credit is based on the number of employees
410-260-7655
hired and the number of months that they were employed during
meainfo@energy.state.md.us
the tax credit period.
PART R - BIO-HEATING OIL TAX CREDIT
The credit may be taken against corporate income tax or personal
An individual or corporation may claim a credit against the State
income tax. The same credit may not, however, be applied to more
income tax in an amount equal to 3¢ per gallon of bio-heating oil
than one tax type.
purchased for space or water heating. The credit may not exceed
Sole proprietorships, corporations and pass-through entities,
$500. Any unused credit amount for the taxable year may not be
such as partnerships, subchapter S corporations, limited liability
carried forward to any other taxable year.
companies and business trusts may claim the tax credit.
To claim the credit, an individual or corporation shall apply with the
To qualify for the credit:
Maryland Energy Administration (MEA) for an initial credit certificate
All employees must be Maryland residents hired between March 25,
for the number of gallons of bio-heating oil purchased for space or
2010 and December 31, 2010. At the time of hire, individuals must
water heating.
be receiving unemployment insurance benefits or have exhausted
No credit may be earned for any tax year beginning on or after
their benefits in the previous 12 months and not working full-time
January 1, 2013.
immediately preceding the date of hire.
For additional information, contact:
The new positions must be:
Maryland Energy Administration
• Full-time;
60 West St., Suite 300
Annapolis, MD 21401
• Positions that require an employee to be employed without
410-260-7655
interruption for 12 months or more;
11-49
Rev 9/12
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