Maryland's manufacturing industry,
established some 300 years ago, has the experience and momentum
that continue to attract established leaders and entrepreneurs alike
to a diverse community of more than 4,100 companies. Leading advanced
technology enterprises include biotechnology, nanotechnology, and
aerospace manufacturing.
Incentives
In Maryland, you will find flexible incentives including employee
training grants, low-cost financing for capital costs via industrial
revenue bonds, and valuable tax credits. In addition, a competitive
business tax plan also features manufacturing friendly tax policies
noted for the taxes manufacturers do not pay.
.
No gross receipts tax for manufacturing
.
No sales tax on capital manufacturing
machinery and equipment
.
No sales tax on tangible personal property
consumed in manufacturing
.
No sales tax on equipment or materials
used or consumed in R&D
.
No sales tax on gas, electricity, steam,
oil or coal consumed directly or predominantly in a production activity
.
No state business personal property
tax
.
No corporate franchise tax
.
No income tax on foreign dividends
(if corporation owns 50% or more of subsidiary)
.
Single apportionment factor for manufacturers |
