Maryland New Markets Development Program incentivizes economic investment in low-income communities.
The Maryland New Markets Development Program, administered by the Department of Housing and Community Development, offers a tax credit for equity investments in low-income community businesses. This credit can be claimed against state income tax, insurance premium receipts tax, and retaliatory taxes. The program aims to stimulate investment in underserved areas, particularly through community development entities experienced in the federal New Markets Tax Credit Program.
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