SB0203

2013 Regular Session

 

Entitled:

Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts and Small Business Refund

Sponsored by:

Senator King

Status:

In the House - Rereferred to Ways and Means


Synopsis:Defining "small business" as it relates to a refund in connection with a credit against the State income tax for research and development expenses incurred by an individual or corporation; altering to $4,000,000 the maximum amount of research and development credits that the Department of Business and Economic Development may approve in a calendar year; providing that specified unused credits may be claimed as a refund; and applying the Act to Maryland research and development tax credits certified after December 15, 2012.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators King, Brinkley, Colburn, Currie, Garagiola, Klausmeier, Madaleno, Manno, McFadden, Peters, Pugh, Robey, and Young
Additional Facts:Cross-filed with: HB0386
Introduced in a prior session as: SB0570 Session: 2012 Regular Session
Bill File Type: Regular
Effective Date(s): June 1, 2013
Committee(s):
Budget and Taxation  Listen to Committee HearingWays and Means
Broad Subject(s):Taxes - Income
Narrow Subject(s):Business and Economic Development, Department of
Income Tax
Industry and Technology
Small Business
Tax Credits -see also- Circuit Breaker
Statutes:Article - Tax - General
(10-721)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


October 2, 2015 9:12 A.M.