Section 4-706 - Tax status. - Maryland Statutes

§ 4-706. Tax status.
 

(a)  In general.- In an arts and entertainment district: 

(1) each qualifying residing artist is eligible for the income tax subtraction modification under § 10-207(v) of the Tax - General Article; 

(2) the property tax credit under § 9-240 of the Tax - Property Article applies; and 

(3) the exemption from the admissions and amusement tax under § 4-104 of the Tax - General Article applies. 

(b)  Notification to Comptroller; effective date.-  

(1) On or before July 1 preceding the effective date of its establishment, the Secretary shall notify the Comptroller that an arts and entertainment district is established. 

(2) The subtraction modification under § 10-207(v) of the Tax - General Article applies to each taxable year beginning after December 31 of the year in which the Secretary provides the notice required by paragraph (1) of this subsection. 
 

[An. Code 1957, art. 83A, § 4-701(b), (d); 2008, ch. 306, § 2.]