Maryland Innovation Investment Tax Credit
This new program, designed to attract investment in Maryland tech companies, is accepting applications for qualified tech companies as well as applications for investors seeking to make investments in these companies.
Here’s how it works:
- A Maryland technology company and its investor(s) separately apply to become qualified.
- The Department of Commerce authorizes the proposed investment by the investor in the Maryland technology company.
- The investor makes the investment of at least $25,000 in the Maryland technology company.
- The Department of Commerce awards the income tax credit to the investor.
- The investor claims the refundable income tax credit on the Maryland return.Applications for qualified tech companies and investors are open through November 15. More details on program eligibility, benefits, and more can be found here.