Maryland Tax Credits Available for Construction Contractors September 13, 2017 The Maryland Department of Labor, Licensing and Regulation (DLLR) has announced two new programs aimed at providing financial incentives to place professionals in registered apprenticeship programs. MARYLAND BUSINESS WORKS: REIMBURSEMENT PROGRAM: The program was established to support employer strategies for retention, growth and layoff aversion through upgrading the skills of your currently-employed workers – including apprentices. Participating companies are required to match the funds provided by the Maryland Business Works program for the actual training costs on a dollar-for-dollar basis. Companies pay 100% of total training upfront costs and then receive a 50% reimbursement by the State. For more information on how to apply for this program go to the DLLR website. MARYLAND REGISTERED APPRENTICESHIP TAX CREDIT: The Tax Credit program provides a State income tax credit to Registered Apprenticeship sponsors or participating employers that hire an eligible Registered Apprentice(s). The Employer may qualify for a $1,000 tax credit for each eligible Registered Apprentice. The Registered Apprentice hired by the Employer must be registered with the Maryland Apprenticeship Training Program and have worked for the employer for at least seven full months starting on or after January 1, 2017. For more information go to the DLLR website. If you have questions in regards to eligibility, please do not hesitate to contact your KatzAbosch representative. You can also contact our: SALT Expert, Daniel Bottner – firstname.lastname@example.org / 410.307.2240 Construction Service Group Co-chair, Kristin Bailey – email@example.com / 410.307.6398 About KatzAbosch: Founded in 1969, KatzAbosch is one of the largest CPA and business consulting services in the Mid-Atlantic region. As a Maryland accounting firm, our mission is to provide the highest quality accounting, tax, financial and management consulting services to our regional clients. We understand the needs and challenges of our clients and we have made it our obligation to create, grow and protect asset value. KatzAbosch is consistently named a Best Accounting Firm to Work For in Accounting Today and has been named a Top 200 Accounting Firms in the Nation by Inside Public Accounting for 2014. Our firm is also ranked among the Top 15 Largest Accounting Firms in the Baltimore Area by the Baltimore Business Journal and a Top Workplace in 2014 by The Baltimore Sun.