§ 10-730. Tax credit for qualified film production entities
West's Annotated Code of MarylandTax-GeneralEffective: July 1, 2023
Effective: July 1, 2023
MD Code, Tax - General, § 10-730
§ 10-730. Tax credit for qualified film production entities
(b)(1) A qualified film production entity may claim a credit against the State income tax for film production activities in the State in an amount equal to the amount stated in the final tax credit certificate approved by the Secretary for film production activities.
(c)(1) Before beginning a film production activity, a film production entity shall submit to the Department an application to qualify as a film production entity.
(d)(1) After completion of the film production activity, a qualified film production entity shall apply to the Department for a tax credit certificate.
(e) In accordance with § 2.5-109 of the Economic Development Article, the Department shall submit a report on film production activity in the State and the economic benefits to the State resulting from film production activity during the reporting period.
(f)(1) Except as provided in paragraph (2) of this subsection, the Secretary may not issue tax credit certificates for credit amounts in the aggregate totaling more than:
(2) If the aggregate credit amounts under the tax credit certificates issued by the Secretary total less than the maximum provided under paragraph (1) of this subsection in any fiscal year, any excess amount may be carried forward and issued under tax credit certificates in a subsequent fiscal year.
(g)(1) Except as provided in paragraph (2) of this subsection, a qualified film production entity that receives a tax credit certificate under this section for a film production activity shall include:
(h)(1) For a Maryland small or independent film entity to qualify as a film production entity:
Credits
Added by Acts 2011, c. 516, § 1, eff. July 1, 2011. Amended by Acts 2013, c. 28, § 1, eff. April 9, 2013; Acts 2015, c. 22, § 5; Acts 2015, c. 58, § 1, eff. June 1, 2015; Acts 2015, c. 486, § 1, eff. July 1, 2015; Acts 2016, c. 8, § 5; Acts 2018, c. 595, § 1, eff. July 1, 2018; Acts 2019, c. 8, § 5; Acts 2019, c. 544, § 2, eff. July 1, 2019; Acts 2020, c. 538, § 6, eff. June 1, 2020; Acts 2022, c. 116, § 1, eff. July 1, 2022; Acts 2022, c. 323, § 1, eff. July 1, 2022; Acts 2023, c. 434, § 1, eff. July 1, 2023.
MD Code, Tax - General, § 10-730, MD TAX GENERAL § 10-730
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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