In the following podcast interview, Angelo Poletis, a Principal with SC&H Group’s Tax Services team, discusses why businesses should leverage the Job Creation Tax Credit (JCTC) in the State of Maryland.
When Governor Hogan was sworn in as the 62nd Governor of Maryland, he declared that, “Maryland is open for business.” With the rise of new tax credits for business, this is certainly the case, and there are plenty of growth opportunities for companies in the state.
For example, the Job Creation Tax Credit allows businesses that create a minimum number of new full-time positions to access state income tax credits of up to $1,000 per job or $1,500 per job in a “revitalization area.”
All of these tax incentives can have a tremendous impact on the growth of technology, government contracting, real estate, and manufacturing companies in Maryland.
However, effectively applying for these credits is critical. It is all too easy to misfile the paperwork, or miss deadlines, which can cost businesses significant opportunities for savings.
To learn more about how SC&H Group can help you take advantage of these unique tax-savings opportunities, please contact SC&H Group’s Tax Services team here.