Maryland Form 504cr - Business Income Tax Credits For Fiduciaries - 2013 Page 10
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232013
FIDUCIARY’S BUSINESS INCOME
MARYLAND
FORM
TAX CREDITS INSTRUCTIONS
504CR
In addition, an employee may not have been hired to replace an
new economically disadvantaged employee for a three-year period
individual employed by the business in that or the three previous
beginning with the first year the employee was qualified.
tax years except an economically disadvantaged employee hired
The credits are limited to the following amounts of wages paid
to replace a previously qualified economically disadvantaged
to the same economically disadvantaged employee: $4,500 in
employee, for whom the business received the corresponding
the first year, $3,000 in the second year and $1,500 in the third
first- or second-year credit in the immediately preceding tax year.
year. If the employee replaced a previously qualified economically
disadvantaged employee, the credit for the new employee will be
For information on the location of enterprise zones and focus areas
and the standards which businesses must meet to qualify, contact:
the same as would have been allowed for the replaced employee.
Maryland Department of Business and Economic Development
On line 8, Part A-III, enter the number of economically
Office of Finance Programs, Tax Incentives Group
disadvantaged qualified employees located in a focus area in their
401 E. Pratt St.
first year of employment in the “First Year” box. Also, enter the
Baltimore, MD 21202
number of these qualified employees in their respective second
410-767-6438 or 410-767-4041
and third year boxes.
On line 9, Part A-III, enter the credit equal to the wages paid to
Economically disadvantaged employees are those who are certified
each first year employee up to a maximum of $4,500 per employee.
as such by:
On line 10, Part A-III, enter the credit equal to the wages paid
Maryland Department of Labor, Licensing and Regulation
to each second year employee up to a maximum of $3,000 per
Division of Workforce Development and Adult Learning
employee.
1100 N. Eutaw Street
On line 11, Part A-III, enter the credit equal to the wages paid
Baltimore, MD 21201
to each third year employee up to a maximum of $1,500 per
410-767-2047
employee.
That office will provide information relating to certification
On line 12, Part A-III, enter the sum of lines 9 through 11.
requirements for such employees.
Part A-IV - Credit for other qualified employees located in
Specific Requirements
a focus area. A credit is allowed for each new qualified employee
Complete Parts A-I and A-II if the business is located in an
located in a focus area not provided in Part A-III. The credit is
enterprise zone but not in a focus area.
limited to $1,500 of wages paid and is applicable for only the first
year the employee was qualified.
Complete Parts A-III and A-IV if the business is located in a focus
area.
On line 13, Part A-IV, enter the number of first-year qualified
employees located in a focus area who were not claimed in Part
Part A-I - Credit for economically disadvantaged employees
A-III.
not located in a focus area. A credit is allowed for each new
economically disadvantaged employee for a three-year period
On line 14, Part A-IV, enter the amount of wages for these
beginning with the year the employee was qualified. The credits are
employees up to a maximum of $1,500 per employee.
limited to the following amounts of wages paid to the economically
Part A - Summary
disadvantaged employee: $3,000 in the first year, $2,000 in the
Add lines 5, 7, 12 and 14 and enter total on line 15, Part A.
second year and $1,000 in the third year. If the employee replaced
a previously qualified economically disadvantaged employee, the
Also the amount on line 15, Part A, becomes an addition
credit for the new employee will be the same as would have been
modification. Whenever an Enterprise Zone Tax Credit is claimed,
allowed for the replaced employee.
an addition modification must be made in the amount of the credit
claimed.
On line 1, Part A-I, enter the number of economically disadvantaged
qualified employees not located in a focus area in their first year
This credit is not refundable and is applied only against the
of employment in the “First Year” box. Also, enter the number
Maryland State tax. To the extent the credit is earned in any year
of these qualified employees in their respective second and third
and it exceeds the State income tax, the business is entitled to an
year boxes.
excess carryover of the credit until it is used, or the expiration of
five years, whichever comes first.
On line 2, Part A-I, enter the credit equal to the wages paid to each
first year employee up to a maximum of $3,000 per employee.
Business must include certification with the return which
shows the business is located in a Maryland enterprise
On line 3, Part A-I, enter the credit equal to the wages paid to each
zone.
second year employee up to a maximum of $2,000 per employee.
Maryland has more than 30 enterprise zones. Counties and
On line 4, Part A-I, enter the credit equal to the wages paid to each
municipalities are responsible for certifying a business as eligible
third year employee up to a maximum of $1,000 per employee.
for the tax credits. Contact the county or municipal enterprise
On line 5, Part A-I, enter the sum of lines 2 through 4.
zone administrator for more information. Department of Business
Part A-II - Credit for other qualified employees not located in
and Economic Development (DBED) has a list of jurisdictions with
a focus area. A credit is allowed for each new qualified employee
enterprise zones on its Web site. Go to
not located in a focus area not provided in Part A-I. The credit is
to see the list of Maryland Enterprise Zones by Region.
limited to $1,000 of wages paid and is applicable for only the
first year the employee was qualified.
PART B – HEALTH ENTERPRISE ZONE HIRING TAX
On line 6, Part A-II, enter the number of first-year qualified
CREDIT
employees who are not located in a focus area who were not
General Requirements A Health Enterprise Zone (HEZ)
claimed in Part A-I.
Practitioner may be eligible for tax credits based on wages paid
On line 7, Part A-II, enter the amount of wages for these employees
to qualified employees.
up to a maximum of $1,000 per employee.
A “Health Enterprise Zone Practitioner” is a health care practitioner
Part A-III - Credit for economically disadvantaged
who is licensed or certified under the Maryland Health Occupations
employees located in a focus area. A credit is allowed for each
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