§ 10-734. Qualified vehicles.

Latest version.

   (a) "Qualified vehicle" defined. -- In this section, "qualified vehicle" means a Class F (tractor) vehicle described under § 13-923 of the Transportation Article that is titled and registered in the State.

(b) In general. -- Subject to the limitations of this section, an individual or a corporation may claim a credit against the State income tax for the expense of registering a qualified vehicle in the State.

(c) Amount of credit. --

   (1) For any taxable year, the credit allowed under this section may not exceed the lesser of:

      (i) $ 400 for each qualified vehicle; or

      (ii) the State income tax for that taxable year.

   (2) The unused amount of the credit may not be carried over to any other taxable year.

HISTORY: 2013, ch. 425, § 4.

                    
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