§ 10-704.1. Tax credit for purchase of Maryland-mined coal
West's Annotated Code of MarylandTax-GeneralEffective: October 1, 2010
Effective: October 1, 2010
MD Code, Tax - General, § 10-704.1
§ 10-704.1. Tax credit for purchase of Maryland-mined coal
(2) “Cogenerator” means a qualifying cogenerator or qualifying small power producer as determined by the Federal Energy Regulatory Commission under the Public Utility Regulatory Policies Act of 1978.1
(b) This section does not apply to:
(c) Subject to the limitations in § 8-406(b)(2) of this article, a cogenerator or electricity supplier may claim a credit against the State income tax in the amount of $3 for each ton of Maryland-mined coal that the cogenerator or electricity supplier purchased in the taxable year.
(d)(1) A cogenerator or electricity supplier may only apply the credit against the State income tax for the taxable year in which the credit was earned.
Credits
Added by Acts 1989, c. 832, § 1, eff. July 1, 1989. Amended by Acts 2000, c. 700, § 1, eff. July 1, 2000; Acts 2006, c. 247, § 1, eff. July 1, 2006; Acts 2006, c. 248, § 1, eff. July 1, 2006; Acts 2010, c. 52, § 1, eff. Oct. 1, 2010.
Footnotes
Pub.L. 95-617, Nov. 9, 1978, 92 Stat. 3117, codified at 16 U.S.C.A. § 2601 et seq.
MD Code, Tax - General, § 10-704.1, MD TAX GENERAL § 10-704.1
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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