Md. Code Regs. 10.01.01.10 - Limits and Excess Amounts

A. The amount of income tax credit stated in the income tax credit certificate may not exceed $10,000 for any individual in any taxable year.

B. Physician Preceptorship Program.

(1) The Department may not issue more than $100,000 in income tax credit certificates for each taxable year.

(2) If the aggregate amount of income tax credit certificates issued during a taxable year totals less than $100,000, the excess amount may be issued for income tax credit certificates in the next taxable year.

C. Nurse Practitioner Preceptorship Program.

(1) The total amount of income tax credit certificates issued by the Department shall be the lesser of:

(a) The total funds in the Nurse Practitioner Preceptorship Tax Credit Fund for that year; or

(b) $100,000.

(2) Any excess amount of income tax credits for a taxable year may be issued under income tax credit certificates in the next taxable year.

D. Physician Assistant Preceptorship Tax Credit Fund. For each taxable year, the total amount of tax credit certificates issued by the Department may not exceed the lesser of:

(1) The total amount of funds in the Physician Assistant Preceptorship Tax Credit Fund for that year; or

(2) $100,000.

Notes

Md. Code Regs. 10.01.01.10

Regulation .10 adopted effective 45:2 Md. R. 68, eff. 1/29/2018; amended and recodified from .09 effective 49:19 Md. R. 868, eff. 9/19/2022