If you’re a manufacturing business in the state of Maryland, your company is eligible for tax incentives created by the 2017 act.
One of the incentives provides a $1,000 tax credit, per apprentice, for manufacturers that employ eligible apprentices.
Other tax benefits include state income tax credits for qualified new jobs created, state real estate tax credit for manufacturing facilities, Sales & Use Tax refunds for qualifying purchases, enhanced depreciation expensing, and Maryland corporate filing fee waivers.
To learn more about the new tax incentives, their effective dates, and how to determine your company’s eligibility, please visit the Department of Commerce website.