Research and Development Tax Credit (R&D)

Maryland's Research and Development (R&D) Tax Credit provides state income tax credits to businesses that incur qualified R&D expenses in Maryland. The credit equals 10% of eligible R&D expenses that exceed the Maryland Base Amount for the taxable year. The total annual cap is $12 million, with a $3.5 million set-aside for small businesses and $8.5 million for other applicants. A single applicant may not receive more than $250,000. Small businesses with net book value assets under $5 million...