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08.02.26.00.htm 08.02.26.00. Title 08 DEPARTMENT OF NATURAL RESOURCES Subtitle 02 FISHERIES SERVICE Chapter 26 Shell Recycling Tax Credit Authority: Tax-General Article, §10-724.1, Annotated Code of Maryland
08.02.26.01.htm 08.02.26.01. 01 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Aggregation site” means a location where shell donated for recycling is stored or aged prior to being replanted in State waters.2) “Bushel” means an amount of oyster shells that will fill a 10-gallon container, or about 500 shells.3) Business Entity.. a) “Business entity" means:. i) A person conducting or operating a trade or business in Maryland; or.
08.02.26.02.htm 08.02.26.02. 02 Eligibility.. A. To be eligible for a State income tax credit under this chapter, a shell recycler shall:. 1) Prior to donating shell, complete an online registration as specified by the Department that includes the shell recycler’s Tax Identification Number;2) Donate shell for recycling to a certified recycled shell collector; and. 3) Receive and maintain electronic invoice records from the Department, indicating for each shell donation:
08.02.26.03.htm 08.02.26.03. 03 Credit Allowances.. A. Allowable Credit.. 1) A shell recycler may claim a tax credit against the State income tax in the amount specified in Tax-General Article, §10-724.1, Annotated Code of Maryland, for each bushel of oyster shells recycled during the taxable year.2) A shell recycler may not claim a tax credit for bushels of shell that:. a) Are collected by the shell recycler as a certified recycled shell collector; or.
08.02.26.04.htm 08.02.26.04. 04 Certification of Credit.. The Department shall certify to an eligible shell recycler the amount of the allowed tax credit approved by the Department for the shell recycler. The Department shall issue the certification by January 30 of the calendar year following the end of the taxable year in which the shells were recycled.
08.02.26.05.htm 08.02.26.05. 05 Claiming the Credit.. To claim the credits approved by the Department, an individual or corporation shall:. A. File with the Comptroller an income tax return for the taxable year in which the costs were incurred; andB. Attach a copy of the Department’s certification of the approved credit amount to the tax return..
08.02.26.06.htm 08.02.26.06. 06 Certified Recycled Shell Collector.. A. Certification of a Collector.. 1) A business entity may apply to the Department to be a certified recycled shell collector.. 2) An application shall:. a) Be submitted on a form provided by the Department; and. b) Include the applicant’s:. i) Name, address, and contact information;. ii) Planned shell aggregation site; and. iii) Planned method of storing and aging the shell.. 3) Upon receipt and review of an application for c
08.02.26.9999.htm 08.02.26.9999. Administrative History Effective date:. Regulations .01―06 adopted as an emergency provision effective January 13, 2014 (41:3 Md. R. 199) adopted permanently effective March 31, 2014 (41:6 Md. R. 377)Regulation .03A, B amended effective December 31, 2018 (45:26 Md. R. 1240).
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