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§ 11-303. Depreciation allowance adjustment

West's Annotated Code of MarylandTax-GeneralEffective: May 30, 2021

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 11. Sales and Use Tax (Refs & Annos)
Subtitle 3. Tax Computation and Statement (Refs & Annos)
Effective: May 30, 2021
MD Code, Tax - General, § 11-303
§ 11-303. Depreciation allowance adjustment
Currentness
In general
(a) A buyer is allowed a depreciation allowance as an adjustment to taxable price if:
(1) tangible personal property, a digital code, a digital product, or a taxable service is acquired before the tangible personal property, digital code, or digital product is brought into the State for use in the State or before the taxable service is used in the State; and
(2) the use first occurs in another state or federal jurisdiction.
Amount of allowance
(b) The allowance under subsection (a) of this section for each full year that follows the date of purchase is 10% of the taxable price paid to acquire the tangible personal property, digital code, digital product, or taxable service.

Credits

Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989. Amended by Acts 2021, c. 669, § 1, eff. May 30, 2021.
Formerly Art. 81, § 373.
MD Code, Tax - General, § 11-303, MD TAX GENERAL § 11-303
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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