The SALT Shaker

Many counties in Maryland have designated certain areas as Enterprise Business Zones providing tax credits for businesses operating in the Zones. This month, Governor Martin O’Malley announced that the State has approved the expansion of the Enterprise Zones around Maryland.  The new or revised Zones include

1.) City of Cumberland – Alleghany County;

2.) Hagerstown – Washington County;

3. Pocomoke and Snow Hill-Worcester County; and

4.  Baltimore City.

The Department of Business and Economic Development approves the State’s Enterprise Zones while local governments are responsible for their administration. Businesses operating within an Enterprise Zone may be eligible for a tax credit towards their state income tax filings based upon the number of new jobs created, and a tax credit on their local real property taxes based upon their overall capital investment into a property. The KatzAbosch SALT Group can help your business take advantage of these tax credits and lower your tax bill.  Please contact your client executive to discuss tax saving opportunities.

The SALT Shaker is prepared by Andy Bareham, Chair of the KatzAbosch SALT Group