COMAR 24.05.20.09. Carryover of Tax Credit

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Code of Maryland Regulations › Title 24 DEPARTMENT OF COMMERCE › Subtitle 05 ECONOMIC DEVELOPMENT › Chapter 20 Job Creation Tax Credit › COMAR 24.05.20.09

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

A. A business entity may carry over the tax credit to a successive tax year if the tax credit allowed exceeds the total tax otherwise due from the entity.

B. The tax credit may only be carried over until the earlier of the:

(1) Full amount of the excess is used; or

(2) Expiration of the fifth taxable year from the credit year.

C. The tax credit may not be carried back to a preceding taxable year.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.