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§ 9-257. New or small business

West's Annotated Code of MarylandTax-PropertyEffective: July 1, 2016

West's Annotated Code of Maryland
Tax-Property
Title 9. Property Tax Credits and Property Tax Relief
Subtitle 2. Statewide Optional
Effective: July 1, 2016
MD Code, Tax - Property, § 9-257
§ 9-257. New or small business
Currentness
In general
(a) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may grant, by law, a property tax credit for up to 50% of the county or municipal corporation property tax imposed on personal property that is:
(1) not operating property of a railroad or public utility; and
(2) owned or leased by a business entity that:
(i) has been in operation for no more than 2 years; or
(ii) has no more than 15 employees.
Amount, duration, eligibility, regulations for tax credit
(b) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may provide, by law, for:
(1) the amount and duration of the tax credit under this section;
(2) additional eligibility criteria for the tax credit under this section;
(3) regulations and procedures for the application and uniform processing of requests for the tax credit; and
(4) any other provision necessary to carry out the tax credit under this section.

Credits

Added by Acts 2016, c. 473, § 1, eff. July 1, 2016.
MD Code, Tax - Property, § 9-257, MD TAX PROPERTY § 9-257
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document