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Maryland Tax Credits you Need to know about

Courtesy of Leather Mae Tax service http://baltimoretaxguy.com/ **Maryland Tax Credits** * Long-term care insurance credit:   Up to $450 or $500 for the payment of qualified long-term care insurance premiums.This is a one time credit. Maryland tax form 502CR PART E * Community investment tax credit:    Individuals who contribute to approved Community Investment Programs may be eligible for a credit against the Maryland State income tax. Contributions must be made to a nonprofit organization approved by the Department of Housing and Community Development (DHCD). The taxpayer must apply to and receive approval by the DHCD for each contribution for which a credit is claimed. A tax credit of 50% of the approved contributions to approved Neighborhood and Community Assistance Programs.  Maryland Form 502CR PART H For more information contact:  Department of Housing and Community Development  Division of Neighborhood Revitalization  2 N. Charles St., Suite 450  Baltimore, MD 21202  410-209-58

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