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B
brh62
April 12, 2025
Question

Credit for Aquaculture Oyster Floats not being applied

  • April 12, 2025
  • 1 reply
  • 0 views
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    1 reply

    B
    BrittanyS
    April 12, 2025

    Do any of the following limitations apply?  

     

    Limitations on credit

    1. For any taxable year, the credit allowed under this section may not exceed the lesser of:
      1. $500
      2. the State income tax imposed for the taxable year calculated before the application of the credits allowed under this section and under §§ 10-701 and 10-701.1 of this subtitle but after the application of any other credit allowed under this subtitle.
    2. The unused amount of the credit may not be carried over to any other taxable year.
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