Regulation .02 Calculation of Amount of Credit.
Regulation .02 Calculation of Amount of Credit.LinkCopy Citation
A.
For a taxable year beginning after December 31, 2012, but before January 1, 2017, a business entity may claim credits against the State income tax for:
(1)
Allowed security clearance administrative expenses, not to exceed $200,000;
(2)
Expenses incurred for rental payments owed during the first year of a rental agreement for spaces leased in the State for a small business that performs security-based contracting, not to exceed $200,000; and
(3)
Subject to §B of this regulation, approved construction and equipment costs incurred to construct or renovate a single SCIF in an amount equal to the lesser of 50 percent of the costs or $200,000.
B.
The total amount of construction and equipment costs incurred to construct or renovate multiple SCIFs for which a business entity is eligible to claim as a credit against the State income tax is $500,000.