Regulation .01 Definitions.
Regulation .01 Definitions.LinkCopy Citation
A.
In this chapter, the following terms have the meanings indicated.
B.
Terms Defined.
(1)
“Business entity” has the meaning stated in Tax-Property Article, §9-103, Annotated Code of Maryland.
(2)
“Certified” means designated by a political subdivision as complying with the standards submitted by the subdivision as provided in Article 83A, §5-402(d)(4), Annotated Code of Maryland.
(3)
“Date of finality” has the meaning stated in Tax-Property Article, §1-101(i), Annotated Code of Maryland.
(4)
“Eligible assessment” means the value of qualified personal property which is initially purchased, acquired, leased, transferred, or otherwise brought into Maryland by a certified business entity from January 1 of the calendar year that entity is first certified until the underlying focus area expires.
(5)
“Focus area” has the meaning stated in Article 83A, §5-401, Annotated Code of Maryland.
(6)
“Political subdivision” has the meaning stated in Article 83A, §5-401, Annotated Code of Maryland.
(7)
“Qualified personal property” means personal property located in a focus area.
(8)
“Tax credit” means the enterprise zone tax credit provided for in Tax-Property Article, §9-103, Annotated Code of Maryland.
(9)
“Taxable year” has the meaning stated in Tax-Property Article, §1-101(ii), Annotated Code of Maryland.