# COMAR Title 24 — Department of Commerce

## Subtitle 05 — Economic Development

### Chapter 06 — Security Clearance Administrative Expenses and Construction and Equipment Costs Tax Credit

#### Regulation .07 Carryover of Tax Credits.

*COMAR 24.05.06.07*

A. If the credit allowed in any taxable year exceeds the State income tax for that taxable year, the business entity may apply the excess as a credit against the State income tax for succeeding taxable years until the full amount of the excess is used.

B. A tax credit may not be carried back to a preceding taxable year.