Maryland Offers Tax Credits for Investing in Biotech

Filed in archive Biotech Hubs and Facilities , Corporate and Industrial News on June 29, 2006

The Maryland Biotechnology Investment Tax Credit Program offers incentives for individuals, companies and venture capitalists investing in seed and early-stage biotech companies in maryland.

Individual investors must commit a minimum of $25,000. For corporations and ventures capitalists, the minimum investment allowed under the program is $250,000.

Appications for tax credits will be accepted beginning July 3, 2006. Applications must be sent by mail, using the forms which can be downloaded here. For more information, refer to the Biotechnology Investment Tax Credit FAQ.

For general info, see report from the Washington Business Journal. The Maryland BITC Program website declares however that "Applications will not be accepted prior to 9:00 AM on July 3, 2006".