State program
Maryland Research and Development Tax Credit
A competitively allocated credit that is refundable for small businesses meeting asset thresholds.
Program Overview
Maryland administers its research credit through the Maryland Department of Commerce under an annual statewide allocation. Applicants file by a fixed autumn deadline for the prior calendar year, and if certified claims exceed the cap the awards are prorated. Small businesses with net book value assets under the statutory threshold receive a refundable credit, which delivers cash to early-stage life sciences and technology companies that dominate the state's innovation economy.
Eligibility
Businesses with qualified research expenses incurred in Maryland that file an application with the Maryland Department of Commerce by the annual deadline. Refundability requires small business status based on net book value of assets.
Benefits
Non-refundable for large filers; refundable in cash for qualifying small businesses, subject to per-company and statewide caps.
Schedule a Teleconference
A scoping conversation clarifies exposure, open IDRs, and whether readiness or active defense is the priority.