Section 11-303 - Depreciation allowance. - Maryland Statutes

§ 11-303. Depreciation allowance.
 

(a)  In general.- A buyer is allowed a depreciation allowance as an adjustment to taxable price if: 

(1) tangible personal property or a taxable service is acquired before the tangible personal property is brought into the State for use in the State or before the taxable service is used in the State; and 

(2) the use first occurs in another state or federal jurisdiction. 

(b)  Amount of allowance.- The allowance under subsection (a) of this section for each full year that follows the date of purchase is 10% of the taxable price paid to acquire the tangible personal property or taxable service. 
 

[An. Code 1957, art. 81, § 373; 1988, ch. 2, § 1.]