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Post details: Maryland --Corporate, Personal Income Taxes: Biotechnology Investment Credit Expanded for Individuals
05/26/09
Maryland --Corporate, Personal Income Taxes: Biotechnology Investment Credit Expanded for Individuals
CCH (cch.taxgroup.com) reports:
For purposes of the credit against Maryland corporate income tax for biotechnology investments, the definition of "qualified investor" has been expanded to include individuals. The legislation also clarifies that the taxable year for which the credit may be claimed is the taxable year in which the investment is made. Further clarified is that the recapture of the credit is within 2 years from the close of the taxable year for which the credit is claimed.
Subscribers can view the legislation.
Ch. 606 (H.B. 493), Laws 2009, effective July 1, 2009
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