Md. Code Regs. 24.05.19.03

Current through Register Vol. 51, No. 26, December 27, 2024

Section 24.05.19.03 - Application and Approval of Credit

A. To claim eligibility for a tax credit and to be certified as eligible for a tax credit, a taxpayer shall submit to the Department, by not later than September 15 of the calendar year following the end of the taxable year in which the costs were incurred an application on a form approved by the Department.

B. Each application shall include the following:

(1) The legal name of the taxpayer;

(2) The street address of the principal place of business of the taxpayer, the taxpayer's mailing address, the taxpayer's email address, and the taxpayer's telephone number;

(3) The name, business mailing address, telephone number, and email address of an individual with authority to act on behalf of the taxpayer;

(4) The federal employer identification number of the taxpayer or, if the taxpayer is an individual or sole proprietorship, the federal taxpayer identification number of the individual or sole proprietor;

(5) An account, which may be in the form of a spreadsheet, showing in detail the eligible capital costs incurred by the taxpayer; and

(6) Any other information requested by the Department.

C. By December 15 of the calendar year following the end of the taxable year in which the qualified capital expenses were incurred, the Department shall certify to the taxpayer the amount of tax credits approved by the Department for the taxpayer.

Md. Code Regs. 24.05.19.03

Effective date: 41:2 Md. R. 92, eff.2/3/2014