Passed by the Maryland General Assembly, Governor Hogan signed a tax credit program into law earlier this year that benefits investors backing early-stage technology startups. Investors can now earn a tax credit worth up to 50% of the investment.
Building upon a previous program set aside to support cybersecurity startups in Maryland, $2 million in funding is available through the program. Investors in qualified Maryland technology startups qualify for 33% (up to $250,000) in tax credits, 50% (up to $500,000) for companies located in select counties.
Multiple industry sectors qualify, including aerospace, cybersecurity, education, artificial intelligence, advanced manufacturing, agriculture, robotics and other technology areas.
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