Buy Maryland Cybersecurity (BMC) Tax Credit
The Buy Maryland Cybersecurity Tax Credit provides an incentive for Qualified Maryland Companies to purchase cybersecurity technologies and services from a Qualified Maryland Cybersecurity Seller. Qualified Maryland Companies may claim a tax credit for 50% of the net purchase price of cybersecurity technologies and services purchased from a Qualified Maryland Cybersecurity Seller. The tax credit must be claimed for the tax year in which a purchase is made.
Cybersecurity Investment Incentive Tax Credit (CIITC)
CIITC provides a refundable income tax credit to Qualified Investors who invest in Qualified Maryland Cybersecurity Companies (QMCCs). The purpose of this program is to attract investment in Maryland cybersecurity companies in order to help them grow, create jobs, and retain intellectual property in Maryland.
This past legislative session was very fruitful when it comes to new bills related to the cyber industry. You can find more information about the individual bills below.