If the credit allowed to the taxpayer in any taxable year exceeds the total of tax otherwise payable for that taxable year, the business entity may apply the excess as a credit for succeeding taxable years until the full amount of the excess credit is used.

Authority: Tax-General Article, §10-742, Annotated Code of Maryland

Effective date: October 31, 2022 (49:22 Md. R. 979)