Fillable Form 515 - Maryland Tax Return - 2012 (Page 9 of 12) in pdf

Earned income, poverty level and other credits for individuals and businesses. You may claim a credit on

line 34 equal to one-half of the earned income credit on your federal return multiplied by the Maryland

income factor from line 9 of Form 505NR. You may claim a credit on line 35 of 5% of your earned income

multiplied by the Maryland income factor if your income is less than the poverty income guidelines. You

may also be eligible for a refundable earned income credit.

EARNED INCOME CREDIT

e. Long-Term Care Insurance Tax Credit.

Tax Credit, Commuter Tax Credit,

If you paid a premium for a long-term

Research and Development Tax Credit,

If you claimed an earned income credit

care insurance policy for yourself or

Maryland-Mined Coal Tax Credit, Long

on your federal return, then you may

certain resident family members, you

Term Employment of Qualified Ex-Felons

claim one-half (50%) of the federal credit

may be eligible for a tax credit.

Tax Credit, Biotechnology Investment

multiplied by the Maryland income factor

Incentive Tax Credit, Green Building Tax

from line 9 of Form 505NR. If you filed a

f. C r e d i t

f o r

P r e s e r v a t i o n

a n d

Credit, Bio-Heating Oil Tax Credit,

joint federal return, but a separate

Conservation Easements. If you

C e l l u l o s i c

E t h a n o l

Re s e a r c h

a n d

Maryland return, you may claim a

donated an easement to the Maryland

Development Tax Credit, Jobs Creation

combined total of up to one-half the

Environmental Trust or the Maryland

and Recovery Tax Credit, Clean Energy

federal credit. Complete Part I of the

A g r i c u l t u ra l

L a n d

P r e s e r va t i o n

Incentive Tax Credit, Film Production

worksheet on page 7 to calculate the

Foundation to preserve open space,

Employment Tax Credit and Electric

amount to enter on line 34 of Form 515.

natural resources, agriculture, forest

Vehicle Recharging Equipment Tax Credit.

l a n d ,

w a t e r s h e d s ,

s i g n i f i c a n t

This is not a refundable credit.

ecosystems, viewsheds, or historic

For additional information regarding

Credits for Income Taxes Paid to

properties, you may be eligible for a

the above income tax credits, see

Other States. This credit is not available

credit.

the instructions provided for Form

for nonresident taxpayers.

500CR-Business Tax Credits. Form

F o r

a d d i t i o n a l

i n f o r m a t i o n

b. Credit for Child and Dependent Care

500CR is available from any office of

regarding any of the above income

Expenses. If you were eligible for a

the Comptroller or visit www.

tax credits, see the instructions for

Child and Dependent Care Credit on

Form 502CR, Income Tax Credits.

your federal income tax return and

Form 502CR and instructions are

yo u r

i n c o m e

i s

b e l o w

c e r t a i n

REFUNDABLE EARNED

available from any office of the

thresholds, you are entitled to a tax

INCOME CREDIT

Comptroller or visit our Web site at

credit equal to a percentage of the

If one-half of your prorated federal

federal credit.

earned income credit is greater than your

c. Quality Teacher Incentive Credit. If you

BUSINESS TAX CREDITS

Maryland tax you may also be eligible for

are a qualified Maryland teacher who

a refundable earned income credit. This

Business tax credits (as calculated on

paid tuition to take graduate level

credit is the amount by which 25% of

Form 500CR) are as follows: Enterprise

c o u r s e s

r e q u i r e d

t o

m a i n t a i n

your federal earned income credit

Zone Tax Credit, Maryland Disability

certification, you may be eligible for a

multiplied by the Maryland income factor

Employment Tax Credit, Job Creation Tax

tax credit.

exceeds your Maryland tax liability.

Credit, Community Investment Tax

Complete Part III of the following

d. Credit for Aquaculture Oyster Floats. If

Credit, Businesses That Create New Jobs

worksheet and enter the result on line 52

you purchased a new aquaculture

Tax Credit, Work-Based Learning Program

of Form 515.

oyster float during the tax year, you

Tax Credit, Employer Provided Long-term

may be entitled to a credit of up to

C a r e

I n s u r a n c e

Ta x

C r e d i t ,

$500 for the cost of the float.

One Maryland Economic Development

COM/RAD-023

12-01

Form 515 - Maryland Tax Return - 2012 Page 9

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