Investors begin applying for Md. biotech credit
BALTIMORE -
The Maryland Department of Business and Economic Development said investors began applying Tuesday for $6 million in biotechnology tax credits.
The program encourages investors to provide seed and early stage funding to qualified, privately held Maryland biotechnology companies. The department said the program has leveraged more than $24 million in private investment since it began in 2006.
The Maryland Biotechnology Investment Tax Credit program provides tax credits equal to 50 percent of an eligible investment. Companies must be less than 12 years old, headquartered in Maryland, employ fewer than 50 people and be certified by the state agency.
Related posts:
- State OKs $24 million in NetJets tax credits
- Fannie, Freddie Post Losses on Tax Credit Writedowns
- Looking for a student loan?
- Liberty Mutual fined by state insurance regulators
- Pa. casino says offer of slots credits was mistake