Washington County New Jobs Tax Credit
The New Jobs Tax Credit Program provides eligible companies with a six-year tax credit against both real and personal property taxes.
In order to qualify for the program, a business must:
- Either construct or expand its operations in Washington County by a minimum of 10,000 square feet;
- Employ at least 25 persons in new permanent full-time positions located at the new or expanded premises in Washington County;
- Pay 50% of those new jobs at least 135% of the Average Weekly Wage per Washington County Worker as reported by the Maryland Department of Labor, Licensing, and Regulation at the end of the previous calendar year; and,
- Be located in a Priority Funding Area as designated in Title 5, Subtitle 7B of the State Finance and Procurement Article.
A business is not eligible for the tax credit program if:
- It has moved the operations which are located on the new or expanded premises from another county in Maryland, including Baltimore City;
- The business has been given a tax credit or exemption for the new or
expanded premises during the same taxable year under any other state or
county law;
- The business' primary operations at the new or expanded premises is related to the restaurant, retail, hospitality or warehouse distribution industries, and;
- The business' operations are not consistent with the County's Comprehensive Land Use Plan.
The amount of the New Jobs Tax Credit a business may claim against County taxes imposed on the assessed value of the new or expanded premises is:
- 52% during the first and second taxable years in which the credit is allowed;
- 39% during the third and fourth taxable years in which the credit is allowed; and,
- 26% during the fifth and sixth years in which the credit is allowed.
