Form 500cr - Income Tax Credits - 2011 Page 9
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19INSTRUCTIONS FOR
MARYLAND
MARYLAND
FORM 500CR
BUSINESS INCOME TAX CREDITS
2011
GENERAL INSTRUCTIONS
that provides the entity name, FEIN, type of credit and amount of the
credit for each entity. Total the amounts for each credit and enter
Purpose 500CR is used to claim the following business tax credits
on the appropriate lines of Form 500CR, Part W. Complete Part W
against corporation, personal or fiduciary income tax, or employer
and Part X.
withholding tax (tax-exempt organizations only).
Note: If a PTE has issued you a Schedule K-1 or other statement
stating that you are entitled to claim a distributive or pro rata portion
Tax Credit
Part
of a One Maryland Economic Development Tax Credit, refer to the
Bio-Heating Oil Tax Credit**
R
instructions in Part P before submitting Form 500CR. There are
Biotechnology Investment Incentive Tax Credit**
L
additional entries you must make on Form 500CR to claim your
share of the credit.
Businesses That Create New Jobs Tax Credit
F
Credits claimed by both spouses on a joint return Complete only
Cellulosic Ethanol Technology Research & Develop-
S
one Form 500CR combining the amounts for both spouses.
ment Tax Credit**
Name and Other Information Enter the name as shown on Form
Clean Energy Incentive Tax Credit**
N
500, 502, 504, 505, 510 or MW508 in the designated area. Enter
Community Investment Tax Credit**
E
the taxpayer identification number (social security number or FEIN).
Commuter Tax Credit*
M
If a federal employer identification number (FEIN) is to be used
and has not been secured, enter “APPLIED FOR” followed by the
Electric Vehicle Recharging Equipment Tax Credit **
V
date of application. If you have not applied for a FEIN, please do
Employer-Provided Long-Term Care Insurance Tax
so immediately.
I
Credit
Tax Year or Period Enter the beginning and ending dates in the
Employment Opportunity Tax Credit*
B
space provided at the top of Form 500CR. The form used for filing
must reflect the same tax year as the annual tax return.
Enterprise Zone Tax Credit
A
When and Where to File Form 500CR must be attached to the
Film Production Employment Tax Credit**
U
annual return (Form 500, 502, 504, 505, 510 or MW508) and filed
Green Building Tax Credit**
Q
with the Comptroller of Maryland, Revenue Administration Division,
Job Creation Tax Credit**
D
110 Carroll Street, Annapolis, Maryland 21411-0001.
Job Creation and Recovery Tax Credit**
T
PART A - ENTERPRISE ZONE TAX CREDIT
Long-Term Employment of Qualified Ex-Felons Tax
G
General Requirements Businesses located in an enterprise zone
Credit*
may be eligible for tax credits based upon wages paid to qualifying
Maryland Disability Employment Tax Credit*
C
employees. For businesses located in a focus area (an area within
Maryland-Mined Coal Tax Credit**
O
an enterprise zone that is especially in need) the credit amounts
are higher.
One Maryland Economic Development Tax Credit**
P
Businesses that own, operate, develop, construct or rehabilitate
Research and Development Tax Credits**
K
property intended for use primarily as single- or multi-family
Telecommunications Property Tax Credit
J
residential property are not eligible for the enterprise zone tax credit.
Work-Based Learning Program Credit**
H
Qualifying employees are those employees who:
1. are new employees or employees rehired after being laid off
*Tax-exempt organizations For application of these credits against
for more than one year;
employer withholding tax, complete and attach Form 500CR to Form
MW508 (Annual Employer Withholding Reconciliation Return). See
2. were employed at least 35 hours per week by the business for
Administrative Release 34.
at least six months before or during the business entity’s tax
year for which a credit is claimed;
**Required Certification must be attached to Form 500CR.
3. spent at least one-half of their working hours in the enterprise
Pass-through entities (PTEs) If the business is a PTE, Form
zone on activities of the business resulting directly from its
500CR must be completed through line 23, Part W and submitted
location in the enterprise zone;
with the PTE income tax return (Form 510). The PTE must provide
each partner, shareholder, member or beneficiary with a statement
4. earn 150% or more of the federal minimum wage; and
showing their share of the credit.
5. were hired by the business after the later of the date on which
Note: If you are a PTE claiming the One Maryland Economic
the enterprise zone was designated or the date on which the
Development Tax Credit, refer to the instructions in Part P before
business entity located in the enterprise zone.
submitting Form 500CR. There are additional reporting requirements.
In addition, an employee may not have been hired to replace an
Credits received from PTEs Check the box on page 1 of Form
individual employed by the business in that or the three previous
500CR to indicate that credits are from a PTE and enter the PTE’s
tax years except an economically disadvantaged employee hired to
federal employer identification number (FEIN). Attach the K-1 and
replace a previously qualified economically disadvantaged employee,
statements from the PTEs showing your share of the credit and any
for whom the business received the corresponding first- or second-
credits passing through and Form 500CR to the tax return to be filed.
year credit in the immediately preceding tax year.
If credits are received from more than one entity, prepare a schedule
For information on the location of enterprise zones and focus areas
11-49
Rev 9/12
1
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