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§ 10-734. Tax credit for registration of qualified vehicles

West's Annotated Code of MarylandTax-GeneralEffective: September 1, 2013

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 10. Income Tax (Refs & Annos)
Subtitle 7. Income Tax Credits (Refs & Annos)
Effective: September 1, 2013
MD Code, Tax - General, § 10-734
§ 10-734. Tax credit for registration of qualified vehicles
Currentness
Qualified vehicles defined
(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.
Credits against State income tax
(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.
Amount of credit
(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.

Credits

Added by Acts 2013, c. 425, § 4, eff. Sept. 1, 2013.
MD Code, Tax - General, § 10-734, MD TAX GENERAL § 10-734
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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