Lege Trend. Tax Incentives for Manufacturers. Via the Free State.

State: Maryland

The manufacturing tax incentive bill signed by the Governor will:

• Apply to  “distressed counties” + 3  counties  chosen by the state Commerce Department
• Help new manufacturers creating jobs over the next 10 years by offering:
  •  sales tax refunds
  • state property tax credits
  •  relief from filing fees
  •  5.75% credit against income tax for the wages they pay
  • allows for accelerated depreciation  to write off the cost of capital purchases in one year
  • capped at $10 million a year statewide

• In exchange for the incentives, companies must:

  •  offer programs that allow their employees to improve their job skills

Governing | Maryland Hopes to Lure Manufacturers With Tax Breaks