Maryland Form 504cr - Business Income Tax Credits For Fiduciaries - 2013 Page 21
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232013
FIDUCIARY’S BUSINESS INCOME
MARYLAND
FORM
TAX CREDITS INSTRUCTIONS
504CR
tax year after the tax year in which the qualified R&D expenses
PART U - FILM PRODUCTION ACTIVITY TAX CREDIT
were paid or incurred.
A qualified film production entity may claim a credit against
No credits may be earned for any tax year beginning on or
the State income tax for film production activities in the state
after January 1, 2017.
in an amount equal to the amount stated in the final tax credit
certificate approved by the Department of Business and Economic
For more information, contact:
Development (DBED).
Maryland Department of Business and Economic Development
If the tax credit allowed exceeds the total tax otherwise payable by
Office of Finance Programs, Tax Incentives
the qualified film production entity for that tax year, the qualified
401 E. Pratt St.
film production entity may claim a refund in the amount of the
Baltimore, MD 21202
excess.
410-767-6438 or 410-767-4980
To claim the credit, before beginning a film production activity, a
qualified film production entity shall apply with DBED for an initial
credit certificate for the estimated production costs. To qualify as
PART T – MARYLAND WINERIES AND VINEYARDS
a film production entity, the estimated total direct costs incurred in
TAX CREDIT
Maryland must exceed $500,000. The credit claimed cannot exceed
the amount stated in the final certificate.
Businesses may claim a credit against the State income tax for
qualified capital expenses made in connection with the establishment
Enter on line 1, Part U, the amount of tax credit certified by DBED.
of new wineries or vineyards, or the capital improvements made
This amount is also entered on line 5, Part Y.
to existing wineries or vineyards in Maryland.
No credit may be earned for any fiscal year beginning on or
The business may apply for tax credit in an amount equal to
after July 1, 2016.
but not more than 25% of incurred costs. The total amount of
For additional information, contact:
credits awarded to each business depends on the amount of
eligible expenses and costs incurred with a limit of $500,000 for
Catherine Batavik, Deputy Director
all businesses that apply. If the total amount of credits applied for
Maryland Film Office
exceeds $500,000 in a year, the credit will be prorated among the
Maryland Department of Business and Economic Development
certified applicants.
401 E. Pratt St., 14th Floor
Baltimore, MD 21201
“Qualified Capital Expenses” are all expenditures made by the
410-767-6342
business for the purchase and installation of equipment or
agricultural materials for use in the production of agricultural
products at a vineyard or in a winery. A list of a number of expenses
Note: A copy of the certification by DBED must be included.
that may be considered is available on the Department of Business
and Economic Development’s (DBED) Web site at choosemaryland.
PART V - ELECTRIC VEHICLE RECHARGING EQUIPMENT TAX
org.
CREDIT
Utilities, labor costs, service costs, repair costs, maintenance costs,
An individual or corporation may claim a credit against the State
construction costs, and general supplies are NOT eligible expenses.
income tax in an amount equal to 20 percent of the cost of any
A business must be certified as a qualified business entity that
qualified electric vehicle recharging equipment placed in service
is eligible for the tax credit. Applications for certification are
by the taxpayer during the tax year. The credit may not exceed
available from the DBED Web site. The business must submit an
$400 for each individual recharging system or the State income
application, report of expenses and supporting documents to DBED
tax for the tax year.
by September 15 of the calendar year following the end of the tax
Any unused credit amount for the tax year may not be carried
year in which the expenses were incurred. DBED will review the
forward to any other tax year.
application package and will certify the amount of tax credit the
taxpayer may claim by December 15th of the same year.
To claim the credit, an individual or corporation shall apply with the
Maryland Energy Administration (MEA) for initial credit certificate
The business must file an electronic amended tax return with the
for the number of individual recharging systems.
Comptroller of Maryland for the year in which the expenses were
incurred and include the certification from DBED.
No credit may be earned for any tax year beginning on or
after January 1, 2017.
This credit is claimed on line 1, Part T, and also is entered on line
20, Part W, Business Tax Credit Summary.
For additional information, contact:
If the Wineries and Vineyards tax credits exceed the State tax
Maryland Energy Administration
imposed for that year, the credits may be carried forward for 15
60 West Street, Suite 300
years.
Annapolis, MD 21401
410-260-7655
No credit may be earned for any tax year beginning on or
meainfo@energy.state.md.us
after July 1, 2018.
Note: A copy of the certification(s) by Maryland Energy
For additional information, contact:
Administration must be included.
Maryland Department of Business and Economic Development
Office of Finance Programs, Tax Incentives
401 E. Pratt St.
PART W - BUSINESS TAX CREDIT SUMMARY
Baltimore, MD 21202
This part is used to summarize all available nonrefundable tax
410-767-6438 or 410-767-4041
credits reported on this form. If the total credits available in a
particular tax year exceed the State tax developed for that year,
the excess may not be refunded.
Taxpayers will enter their respective current year credits in lines 1
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