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Martin O'Malley, Governor
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Ch. 370
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2. is required to pay to the Comptroller under
§ 10-906(a) of this title.
(2) If the credit allowed under this subsection in any taxable year
exceeds the sum of the State income tax otherwise payable by the organization for that
taxable year and the taxes that the organization has withheld from the wages of
employees and is required to pay to the Comptroller under § 10-906(a) of this title for
the taxable year, the organization may apply the excess as a credit under paragraph
(l)(i) or (ii) of this subsection in succeeding taxable years for the carryforward period
provided in [Article 88A, § 54 of the Code] SUBSECTION (F) OF THIS SECTION.
(3) The Comptroller shall adopt regulations to provide procedures for
claiming and applying credits authorized under paragraph (1)(ii) of this subsection.
SECTION 4. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article - Insurance
6-105.1.
An insurer may claim a credit against the premium tax payable under this
subtitle for wages paid to a qualified employment opportunity employee and for child
care provided or paid by the insurer for the children of a qualified employment
opportunity employee or transportation expenses as provided under [Article 88A, § 54
of the Code] § 10-704.3 OF THE TAX - GENERAL ARTICLE.
Article - Tax - General
8-410.
A public service company may claim a credit against the public service company
franchise tax for wages paid to qualified employment opportunity employees and for
child care provided or paid for by a business entity for the children of a qualified
employment opportunity employee or transportation expenses as provided under
[Article 88A, § 54 of the Code] § 10-704.3 OF THE THIS ARTICLE.
Chapter 492 of the Acts of 1995, as amended by Chapter 10 of the Acts of 1996,
Chapters 598 and 599 of the Acts of 1998, Chapter 448 of the Acts of 2000,
Chapter 454 of the Acts of 2003, and Chapter 394 of the Acts of 2006
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1995, and shall be applicable to all taxable years beginning after December 31,
1994 but before January 1, [2010] 2011; provided, however, that the tax credit under
[Article 88A, § 54 of the Code] § 10-704.3 OF THE TAX - GENERAL ARTICLE, as
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