# COMAR Title 24 — Department of Commerce

## Subtitle 05 — Economic Development

### Chapter 12 — Cellulosic Ethanol Technology Research and Development Tax Credit

#### Regulation .05 Calculation of Credit for Partial or Short Taxable Year.

*COMAR 24.05.12.05*

A. The Maryland qualified research and development expenses for a partial year taxpayer are:

  (1) The actual Maryland qualified research and development expenses incurred during the partial taxable year; or

  (2) The total Maryland qualified research and development expenses incurred during the entire taxable year multiplied by a fraction:

    (a) The numerator of which is the number of days in the calendar year included in the partial taxable year; and

    (b) The denominator of which is 365.

B. The partial or short year taxpayer may claim a credit against the State income tax in the amount of 10 percent of the Maryland qualified research and development expenses paid or incurred by the taxpayer during the taxable year.