The annual application process for Maryland’s Biotechnology Investment Incentive Tax Credit (Biotech Credit) will begin on June 1, 2017. The Biotech Credit can offer significant income tax savings to both potential investors in a Maryland biotechnology company and current investors considering making additional investment in a Maryland biotechnology company. The Maryland Department of Commerce, which administers the Biotech Credit, will accept the initial paper applications between June 1st and June 23rd.
The amount of the credit is generally 50% of the investment in a qualified Maryland biotechnology company up to $250,000. Those amounts are increased to a credit of 75% and …read more
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