# COMAR 24.05.20.08: COMAR 24.05.20.08. Amount of Tax Credit

> Maryland · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_08

## Section

- **Citation:** COMAR 24.05.20.08
- **Heading:** COMAR 24.05.20.08. Amount of Tax Credit
- **Jurisdiction:** Maryland
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Code of Maryland Regulations / Title 24 DEPARTMENT OF COMMERCE / Subtitle 05 ECONOMIC DEVELOPMENT / Chapter 20 Job Creation Tax Credit / COMAR 24.05.20.08

## Text

A. Standard Tax Credit. The standard tax credit earned under this section equals the lesser of:
(1) $1,000 multiplied by the number of qualified employees employed by the qualified entity during the credit year; and
(2) 2.5 percent of the wages paid by the qualified business entity during the credit year to all qualified employees.
B. Tax Credit for Facility in Revitalization Area. The tax credit for qualified employees working in a facility located in a revitalization area equals the lesser of:
(1) $1,500 multiplied by the number of qualified employees employed by the qualified entity during the credit year; and
(2) 5 percent of the wages paid by the qualified business entity during the credit year to the qualified employees.
C. Earning the Tax Credit.
(1) The tax credit is earned by the business entity at the end of the 12-month period during which the requisite number of qualified positions have been filled.
(2) The 12 months need not be consecutive.
D. Time That Tax Credit May Be Taken. The tax credit shall be allowed ratably with 1/2 of the tax credit amount allowed annually for 2 years beginning with the credit year.
E. Limitations on the Tax Credit.
(1) The tax credit earned by a qualified business entity may not exceed $1,000,000 for any credit year.
(2) The same tax credit may not be applied more than once against different taxes by the same taxpayer.
(3) The tax credit shall be taken in only 1 credit year for each qualified position.
(4) The tax credit shall be based on 12 months' wages for each qualified employee.

## Nearby sections

- [COMAR 24.05.20.01 COMAR 24.05.20.01. Objective](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_01.md)
- [COMAR 24.05.20.02 COMAR 24.05.20.02. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_02.md)
- [COMAR 24.05.20.03 COMAR 24.05.20.03. Scope and Administration](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_03.md)
- [COMAR 24.05.20.04 COMAR 24.05.20.04. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_04.md)
- [COMAR 24.05.20.05 COMAR 24.05.20.05. Notification Required](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_05.md)
- [COMAR 24.05.20.06 COMAR 24.05.20.06. Certification Procedures](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_06.md)
- [COMAR 24.05.20.07 COMAR 24.05.20.07. Eligible Business Activities](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_07.md)
- [COMAR 24.05.20.08 COMAR 24.05.20.08. Amount of Tax Credit](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_08.md)
- [COMAR 24.05.20.09 COMAR 24.05.20.09. Carryover of Tax Credit](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_09.md)
- [COMAR 24.05.20.10 COMAR 24.05.20.10. Recapture Provisions](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_10.md)
- [COMAR 24.05.20.11 COMAR 24.05.20.11. Information Required from Entity](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_11.md)
- [COMAR 24.05.20.12 COMAR 24.05.20.12. Confidentiality Protections for Business Entities](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_12.md)
- [COMAR 24.05.20.14 COMAR 24.05.20.14. Waiver](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_20_08. Check the current official text before relying on it. Not legal advice.