Cellulosic Ethanol Research and Development Tax Credit

An individual or corporation may claim a credit against the state income tax for 10% of qualified research and development expenses for cellulosic ethanol technology. The total credit may not exceed $250,000 per calendar year. If the credit allowed exceeds the tax liability of the individual or corporation for that taxable year, the credit may be applied for up to 15 future taxable years after the qualified expenses were incurred. This tax credit does not apply to qualified expenses incurred after December 31, 2016. (Reference Maryland Statutes Tax-General Code 10-205j, 10-306f, and 10-726)