Maryland Business Resource
“Maryland Made Easy” is a program focusing on ways state agencies can streamline and simplify regulations to make doing business in the state easier. In that spirit, the “One Maryland Tax Credit” allows businesses that invest in an economic development project in a qualified county to qualify for tax credits worth up to $5 million, and start-up tax credits worth up to $500,000. This program covers qualifying costs incurred with the acquisition, construction, rehabilitation, installation, and equipping of eligible projects.
The “Invest Maryland” program is a premium tax-credit program meant to fuel investment by offering insurance companies the opportunity to forward-pay taxes at a discounted rate, in exchange for an investment in the program. A minimum of 50 percent of these investments flows into the Maryland Venture Fund, for the purpose of supplying capital to businesses to create jobs and advance innovation.
The state also offers a “Start-up Tax Credit” program to help cover the expense of moving a business from outside Maryland. Eligible costs include telecommunications, office equipment, and furnishings. The credit is capped at the lesser of $500,000 of eligible costs or $10,000 times the number of new positions created.