Maryland

Credit

A credit is allowed against the state income tax for employers providing long-term care insurance up to an amount equal to 5 % of the costs incurred by the employer during the taxable year for providing long-term care insurance as a part of the employee benefit package. The credit may not exceed $5,000 or $100 for each employee covered by long-term care insurance under the employer benefit package and it is applicable to all taxable years beginning after 12/31/98. [Ins. Art. 6-117, Chapter 7 (1998)]

A credit is allowed in the amount equal to 100% of the eligible federally qualified long-term care insurance premiums covering the individual, spouse, parent, step-parent, child or step-child, not to exceed $500 effective 7/1/00, for taxable years beginning after 12/31/99. [Chapter 242, Section 10-718 (2000)]