Md. Code Regs. 18.07.04.01

Current through Register Vol. 51, No. 24, December 2, 2024

Section 18.07.04.01 - Definitions

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) "Business entity" has the meaning stated in Tax-Property Article, §9-103, Annotated Code of Maryland.

(2) "Certified" means designated by a political subdivision as complying with the standards submitted by the subdivision as provided in Article 83A, § 5-402(d)(4), Annotated Code of Maryland.

(3) "Date of finality" has the meaning stated in Tax-Property Article, §1-101(i), Annotated Code of Maryland.

(4) "Eligible assessment" means the value of qualified personal property which is initially purchased, acquired, leased, transferred, or otherwise brought into Maryland by a certified business entity from January 1 of the calendar year that entity is first certified until the underlying focus area expires.

(5) "Focus area" has the meaning stated in Article 83A, § 5-401, Annotated Code of Maryland.

(6) "Political subdivision" has the meaning stated in Article 83A, § 5-401, Annotated Code of Maryland.

(7) "Qualified personal property" means personal property located in a focus area.

(8) "Tax credit" means the enterprise zone tax credit provided for in Tax-Property Article, §9-103, Annotated Code of Maryland.

(9) "Taxable year" has the meaning stated in Tax-Property Article, §1-101(ii), Annotated Code of Maryland.

Md. Code Regs. 18.07.04.01

Regulations .01 adopted as an emergency provision effective December 15, 2000 (28:2 Md. R. 97); emergency status expired May 14, 2001; adopted permanently effective May 28, 2001 (28:10 Md. R. 950)