# COMAR Title 24 — Department of Commerce

## Subtitle 05 — Economic Development

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

#### Regulation .11 Carryover of Tax Credit.

*COMAR 24.05.12.11*

A. If the credit allowed in any taxable year exceeds a taxpayer's State income tax for that taxable year, the taxpayer may apply the excess as a credit against the State income tax for succeeding taxable years until the earlier of:

  (1) The full amount of the excess is used; or

  (2) The expiration of the 15th taxable year after the taxable year in which the Maryland qualified research and development expense was incurred.

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