- A. If the credit allowed pursuant to this chapter in any taxable year exceeds the total tax otherwise payable by the taxpayer for that taxable year, the taxpayer may apply the excess as a credit for succeeding taxable years until:
- B. A tax credit may not be carried back to a preceding taxable year.
Authority: Tax General Article, §§2-103 and 10-735; Economic Development Article, §2-108; Annotated Code of Maryland
Effective date: February 3, 2014 (41:2 Md. R. 92)