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2007 Laws of Maryland
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Ch. 90
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(e) (1) In determining the amount of the credit under this section:
(i) all members of the same controlled group of corporations, as
defined under § 41(f) of the Internal Revenue Code, shall be treated as a single
taxpayer; and
(ii) the credit allowable by this section to each member shall be
its proportionate shares of the qualified research expenses giving rise to the credit.
(2) The Comptroller shall adopt regulations providing for:
(i) determination of the amount of the credit under this section
in the case of trades or businesses, whether or not incorporated, that are under
common control;
(ii) pass-through and allocation of the credit in the case of
estates and trusts, partnerships, unincorporated trades or businesses, and S
corporations;
(iii) adjustments in the case of acquisitions and dispositions
described in § 41(f)(3) of the Internal Revenue Code; and
(iv) determination of the credit in the case of short taxable years.
(3) The regulations adopted under paragraph (2) of this subsection
shall be based on principles similar to the principles applicable under § 41 of the
Internal Revenue Code and regulations adopted thereunder.
(f) (1) The Department of Business and Economic Development and the
Comptroller jointly shall adopt regulations to prescribe standards for determining
when research or development is considered conducted in the State for purposes of
determining the credit under this section.
(2) In adopting regulations under this subsection, the Department and
the Comptroller may consider:
(i) the location where services are performed;
(ii) the residence or business location of the person or persons
performing services;
(iii) the location where supplies used in research and
development are consumed; and
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