An important reminder for all companies with locations in Maryland!
A new Maryland state tax credit is available starting with tax years beginning after December 31, 2021 and before January 1, 2029. The tax credit is a 50% match state tax credit on the federal WOTC for Maryland employees.
The credit must be taken on the current return. There is no carry forward available to any other tax year.
Please contact Julie Dietz if you are interested in taking this credit.
President Biden recently signed the CHIPS and Science Act of 2022. This semiconductor manufacturing package provides a 25% tax credit of qualified investment in chip manufacturing. Taxpayers may elect to treat the credit as payment against tax (“direct pay”). The credits applies to qualified investment placed in service after Decembers 31, 2022 and for which construction begins before January 1, 2027.
If your company is located in Georgia, Silverlode can determine if you have a location in a Georgia Opportunity Zone or Georgia Military Zone.
Businesses in all industries can qualify for benefits in these Georgia Special Zones. Benefits of these Georgia special zones include:
The Colorado Enterprise Zone Program is a valuable tax credit opportunity for businesses located in one of 19 designated areas of Colorado. Companies in any industry can qualify for this tax credit opportunity. Enterprise Zone businesses can participate in several Colorado Income Tax Credit programs including the Investment Tax Credit, Business Facility New Employee Credit, and Job Training Investment Tax Credit.