Maryland SB25 revises the Buy Maryland Cybersecurity Tax Credit to promote cybersecurity technology and services.

Maryland SB25 amends the Buy Maryland Cybersecurity Tax Credit to support the cybersecurity industry. The bill allows qualified buyers to claim a credit against state income tax equal to 50% of the cost of cybersecurity technology or services purchased from Maryland cybersecurity companies. The credit is capped at $50,000 per qualified buyer per taxable year and $1,000,000 per qualified seller per year. The bill also modifies eligibility criteria for qualified sellers and buyers, including those in historically underutilized business zones. The credit is available until December 31, 2030.

Maryland SB25 revises the Buy Maryland Cybersecurity Tax Credit to promote cybersecurity technology and services.

Maryland SB25 amends the Buy Maryland Cybersecurity Tax Credit to support the cybersecurity industry. The bill allows qualified buyers to claim a credit against state income tax equal to 50% of the cost of cybersecurity technology or services purchased from Maryland cybersecurity companies. The credit is capped at $50,000 per qualified buyer per taxable year and $1,000,000 per qualified seller per year. The bill also modifies eligibility criteria for qualified sellers and buyers, including those in historically underutilized business zones. The credit is available until December 31, 2030.