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Maryland-Mined Coal Credit

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Maryland-Mined Coal Credit

Answer

A qualified co-generator, a public service company, or an electricity supplier that purchases coal mined in Maryland on or before December 31, 2020, may be eligible for a tax credit.

The credit may be taken against corporate income tax or personal income tax, public service franchise tax. The same credit may not, however, be applied to more than one tax type.

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

MD Mined Coal Credit


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Article Details
Views: 202 Created on: Jun 15, 2013
Date updated: Sep 28, 2015
Posted in: STATES, Maryland

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