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10.61.01.00.htm 10.61.01.00. Title 10 MARYLAND DEPARTMENT OF HEALTH Subtitle 61 HEALTH ENTERPRISE ZONE INITIATIVE Chapter 01 Health Enterprise Zone Tax Credits Authority: Health-General Article, Title 20, Subtitle 14; Tax-General Article, §10-731; Annotated Code of Maryland
10.61.01.01.htm 10.61.01.01. 01 Objective.. The objective of the Health Enterprise Zone tax credits are to reduce health disparities, improve health outcomes, and reduce health care costs and hospital admissions and readmissions in traditionally underserved communities in the State by encouraging qualified licensed or certified health care practitioners to relocate or expand services in areas designated as Health Enterprise Zones under the Maryland Health Improvement and Disparities Reduct
10.61.01.02.htm 10.61.01.02. 02 Purpose.. This chapter describes the procedures that will be used by the Secretary of Health to establish the requirements necessary to qualify for and receive the Health Enterprise Zone tax credits.
10.61.01.03.htm 10.61.01.03. 03 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Credit year” means the taxable year for which a qualified Health Enterprise Zone practitioner claims a Health Enterprise Zone tax credit.2) “Department” means the Maryland Department of Health.. 3) “Health Enterprise Zone” has the meaning stated in Health-General Article, §20-1401(e) Annotated Code of Maryland.4) “Health Enterprise Zone employer” means a Healt
10.61.01.04.htm 10.61.01.04. 04 Income Tax Credits.. A. The income tax credit is a nonrefundable credit against the State income tax and shall be in an amount equal to 100 percent of the amount of State income tax expected to be due from the Health Enterprise Zone practitioner from income derived from practice in the Health Enterprise Zone for the credit year.B. A Health Enterprise Zone practitioner who practices health care in a Health Enterprise Zone may be eligible for an income tax credit available unde
10.61.01.05.htm 10.61.01.05. 05 Verification and Audit of Income Tax Credits and Hiring Tax Credits.. A. The Department may:. 1) Request from an HEZ practitioner or employer additional information to verify statements in preliminary and final applications for the income tax credit and the hiring tax credit; and2) Use independent verification to verify information reported on a preliminary or final application for an income tax credit or a hiring tax credit.B. The Comptroller retains its audit authority und
10.61.01.06.htm 10.61.01.06. 06 Hiring Tax Credits.. A. The hiring tax credit is a refundable credit of $10,000 against the State income tax for hiring for a qualified position in a Health Enterprise Zone by a Health Enterprise Zone employer.B. A Health Enterprise Zone employer may be eligible for a hiring tax credit available under Tax-General Article, §10-731, Annotated Code of Maryland, if the Health Enterprise Zone employer:1) Creates one or more qualified positions during any 24-month period;.
10.61.01.9999.htm 10.61.01.9999. Administrative History Effective date:. Regulations .01―05 adopted as an emergency provision effective January 13, 2014 (41:3 Md. R. 200) adopted permanently effective April 28, 2014 (41:8 Md. R. 473)Regulation .03B amended effective December 22, 2014 (41:25 Md. R. 1485). Regulation .05A amended effective December 22, 2014 (41:25 Md. R. 1485). Regulation .06 adopted effective December 22, 2014 (41:25 Md. R. 1485).
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