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Job Creation Tax Credit (Maryland)

Eligibility 
Commercial
Construction
Industrial
Investor-Owned Utility
Municipal/Public Utility
Rural Electric Cooperative
Utility
Savings Category 
Fuel Cells
Photovoltaics
Program Info
State 
Maryland
Program Type 
Corporate Tax Incentive
Provider 
Maryland Department of Business and Economic Development

The Job Creation Tax Credit provides a $1000 tax credit to businesses that create new jobs; the credit is 2.5% of the aggregate annual wages for all newly created full-time positions. This credit is increased to five percent in revitalization zones, up to $1500 per job. Credits may not exceed $1 million per year and may be carried forward for five years. Sixty jobs must be created during a 24-month period. Eligible businesses include public utilities. In a “Priority Funding Area,” a business needs only to create a minimum of 25 new positions.