How Do I Calculate Idaho Net Operating Loss?

A net operating loss (NOL) occurs when the amount of Idaho taxable income, after making modifications, is less than zero. Idaho calculates the Idaho NOL differently than the federal NOL, so you must always add back the NOL claimed on your federal income tax return. Idaho allows a deduction to individuals, C corporations, trusts and estates. S corporations and partnerships aren’t allowed an [...]

One Maryland Economic Development Tax Credit

Businesses that invest in an economic development project in a Tier 1 County and create a minimum number of new jobs may qualify for a State income tax credit up to $5 million depending on the number of jobs and amount of eligible [...]

Maryland CATALYTIC REVITALIZATION PROJECTS AND HISTORIC REVITALIZATION TAX CREDIT

**NEW** for 2021 CATALYTIC REVITALIZATION PROJECTS AND HISTOR IC REVITALIZATION TAX CREDIT. If you are an individual, business entity, or nonprofit organization, you may claim a tax credit in an amount equal to 20% of the amount stated in the final tax credit certificate issued by the Secretary of this subtitle for 5 consecutive taxable years beginning with the taxable years in which the [...]

Maryland Commuter Tax Credit

Businesses may claim a credit for the cost of providing qualifying commuter benefits to the business entities’ [...]

Maryland Research and Development Tax Credit

If a business is certified to claim the Research and Development Tax Credit as a “Small Business,” the credit is calculated in basically the same manner, but Part K-II is used. A “Small Business” is defined as a for-profit corporation, limited liability company, partnership or sole-proprietorship with net book value assets totaling at the beginning or the end of the tax [...]