The Work-Based Learning Program Credit expired December 31, 2012. No more credits may be earned for this program.
Maryland had offered a tax credit to employers for approved paid work-based learning programs that provided to students, a structured employer-supervised learning experience.
The tax credit was limited to the State portion of the income tax. While no more Work-Based Learning Program Tax Credits may be earned, excess credits already earned, but not used, may be carried over until used, or for up to 5 years beginning with the tax year in which the credit was earned, whichever comes first.
Electronic Filing required:
The carryover of the excess Work-Based Learning income tax credit must be requested on an electronic return completing the Form 500CR section of the electronic income tax return.
An organization that is exempt from taxation under §501(c)(3) or (4) of the Internal Revenue Code may apply the credit against the income tax due on unrelated business income.