Current with changes from the 2024 Legislative Session
Section 10-734 - Qualified vehicles(a) In this section, "qualified vehicle" means a Class F (tractor) vehicle described under § 13-923 of the Transportation Article that is titled and registered in the State.(b) Subject to the limitations of this section, an individual or a corporation may claim a credit against the State income tax for the expense of registering a qualified vehicle in the State.(c)(1) For any taxable year, the credit allowed under this section may not exceed the lesser of: (i) $400 for each qualified vehicle; or(ii) the State income tax for that taxable year.(2) The unused amount of the credit may not be carried over to any other taxable year.
Md. Code, TG § 10-734
Amended by 2013 Md. Laws, Ch. 659,Sec. 1, eff. 7/1/2013.