A credit is allowed for cost of new aquaculture oyster floats that are designed to grow oysters at or under an individual homeowner’s pier. The devices must be buoyant and assist in the growth of oysters for the width of the pier. The credit amount is limited to the lesser of the individual's state tax liability for that year or the maximum allowable credit of $500.
If the credit is more than the tax liability, the unused credit may not be carried forward to another tax year.
To claim the credit, you must complete Part D of Form 502CR and attach to your Maryland income tax return. You must also report the credit on Maryland Form 502, 505 or 515.