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Maryland Commuter Tax Credit

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Maryland Commuter Tax Credit

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Maryland employers, including organizations exempt from taxation under §501(c)(3) or (4) of the Internal Revenue Code, may claim a tax credit for a portion of the eligible costs of providing commuter benefits to participating employees.

The credit may be taken against corporate income tax, personal income tax, state and local taxes withheld (for tax-exempt organizations) or insurance premiums tax. The same credit may not, however, be applied to more than one tax type.

Sole proprietorships, corporations, tax-exempt nonprofit organizations and pass-through entities, such as partnerships, subchapter S corporations, limited liability companies and business trusts may claim the tax credit.

MD Commuter Tax Credit


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Article Details
Views: 221 Created on: Jun 15, 2013
Date updated: Sep 28, 2015
Posted in: STATES, Maryland

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