A taxpayer may claim a credit against the State income tax in an amount equal to 10 percent of the Maryland qualified research and development expenses paid or incurred by the taxpayer during the taxable year.

Authority: Economic Development Article, §2-108; Tax General Article, §§2-103 and 10-726; Annotated Code of Maryland

Effective date: April 6, 2009 (36:7 Md. R. 527)