Tuesday, December 22, 2015

Maryland Commuter Tax Credit Available for Employers

Maryland employers, including 501 (c)(3) organizations, may claim a tax credit for 50 percent of the eligible costs of providing commuter benefits, up to a maximum credit of $50 for each participating employee per month. The tax credit can be taken against personal income tax, corporate income tax or insurance premium tax. Employers must submit a registration form to the State before the last day of the taxable year in which the credit will be claimed.