In an effort to create new Maryland jobs for unemployed Maryland residents, Governor Martin O'Malley signed emergency legislation enacting the Job Creation and Recovery Tax Credit. The Tax Credit makes available a $5,000 tax credit (that's $5,000 in real money - not just a tax deduction) for each Maryland resident who at the time of hire is unemployed and is a "Qualified Employee," who is hired by a "Qualified Employer" to fill a "Qualified Position." Visit our article here to find out what Qualified Employee, Qualified Employer and Qualified Position mean. The Qualified Employee needs to be hired by December 31, 2010.
This alert has been prepared by Tydings for informational purposes only and does not constitute legal advice.