Senate Bill 64 (Chapter 20, Acts of 2010)
This Act extends the termination date of the Maryland Research and Development Tax Credit to all taxable years beginning after December 31, 1999 but before January 1, 2020. This Act provides that if a taxpayer files on a fiscal year, for the taxable year that begins in calendar year 2019, they may claim a prorated credit for research and development expenses paid or incurred in the taxable year for that part of the taxable year that falls in calendar year 2019. The Act provides that the Maryland Research and Development Tax Credit will abrogate with no further action on June 30, 2021.
This Act takes effect on July 1, 2010.