Maryland § 6-305
Full text of Maryland Maryland Code § 6-305, with citation guidance and answers to common questions.
§ 6-305.
(a) The provisions of this section do not apply to a tax credit claimed by a small business under § 6–303(b)(2) of this subtitle.
(b) If, during any of the 3 years after the credit year, the number of qualified positions of the qualified business entity falls more than 5% below the average number of qualified positions that existed during the credit year on which the credit was computed, the credit shall be recaptured as follows:
(1) the credit shall be recomputed and reduced by the percentage reduction of the number of qualified employees;
(2) the recomputed credit shall be subtracted from the amount of credit previously allowed; and
(3) the qualified business entity shall pay the difference as taxes payable to the State for the taxable year in which the number of qualified positions falls more than 5% below the average number of qualified positions during the credit year.
(c) If, during any of the 3 years after the credit year, the average number of qualified positions falls below the applicable threshold number of positions required under § 6–303(b)(1) of this subtitle, all credits earned shall be recaptured.
(d) During the 3 taxable years after the credit year, a qualified business entity shall provide any information required by the Department in regulation to verify that the qualified business entity is not subject to subsection (b) or (c) of this section.
Frequently Asked Questions About Maryland § 6-305
What does Maryland Code § 6-305 cover?
Section 6-305 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 6-305?
A common citation format is "Maryland Code § 6-305" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 6-305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.