Plain Text Law

Chapter 36. Tax Credit Certificate

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Regulation .01 Applicability.Copy Citation

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This chapter applies to the issuance of a Tax Credit Certificate for an individual or a corporation to claim a credit against the State Income Tax for the expense of registering a qualified vehicle in the State during the taxable year, as set forth in Tax-General Article, §10-734.1, Annotated Code of Maryland.

Regulation .02 Definitions.Copy Citation

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A.
In this chapter, the following terms have the meanings indicated.
B.
Terms Defined.
(1)
“Administration” means the Motor Vehicle Administration.
(2)
“Comptroller” means the Comptroller of Maryland.
(3)
“Qualified vehicle” means a class F (tractor) vehicle described under Transportation Article, §13-923, Annotated Code of Maryland, that is titled and registered in the State.
(4)
“Tax Credit Certificate” means a certificate issued by the Administration that certifies, a vehicle owner meets the requirements to claim a credit against the State Income Tax for the expense of registering the qualified vehicle in the State during the taxable year, as set forth under this chapter and in Tax-General Article, §10-734.1, Annotated Code of Maryland.

Regulation .03 Applying for a Tax Credit Certificate.Copy Citation

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A.
An individual or a corporation seeking a Tax Credit Certificate shall apply for a certificate in a format prescribed by the Administration.
B.
An applicant for a Tax Credit Certificate shall provide the Administration with a completed application, including the title number of the vehicle for which credit is sought.

Regulation .04 Issuance of a Tax Credit Certificate.Copy Citation

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A.
In accordance with the Tax-General Article, §10-734.1, Annotated Code of Maryland, the Administration shall issue a Tax Credit Certificate.
B.
The Administration may not issue a Tax Credit Certificate, for any taxable year, if:
(1)
The required documents are not furnished or the information is incomplete; or
(2)
The aggregate amount of Tax Credit Certificates exceeds the amount as set forth under Tax-General Article, §10-734.1(c)(2), Annotated Code of Maryland.
Chapter annotations
Authority: Commercial Law Article, §§14-1502 and 14-1503; Tax-General Article, §10-734.1(g); Transportation Article, §§12-104(b), 13-808, and 13-817; Annotated Code of Maryland
History: Effective date: September 25, 2017 (44:19 Md. R. 897)