"Qualified Maryland Company (Buyer) Tax Credit Application Form" - Maryland

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BUY MARYLAND CYBERSECURITY TAX CREDIT
QUALIFIED MARYLAND COMPANY (BUYER)
TAX CREDIT APPLICATION
APPLICATION FOR TAX YEAR 2018
IMPORTANT – Because the Buy Maryland Cybersecurity Tax Credit is limited and capped, applications
are accepted on a first come, first served basis. Signature required.
1. Full Legal Name of Organization
2. Federal Employer Identification Number (FEIN)
3. Unemployment Insurance Number
4. Legal Form of Entity
C Corporation
S Corporation
LLC
LLP
Limited Partnership
General Partnership
LLLP
Other (Provide Legal Form of Entity):
5. NAICS Code
6. Total Number of Maryland Employee(s)
7. Name of Cybersecurity Seller (Company that Sold the Cybersecurity Technology or Service)
8. Total Amount of Requested Tax Credit (
)
$
Total from Column E in Section 9
9. Buy Maryland Cybersecurity – Requested Tax Credit Calculation Worksheet
A
B
C
D
E
Cybersecurity Purchase
Type of
Purchase
For Purchases Made
Requested Tax Credit
Purchase
Price
from a Third-Party
Amount
Reseller: Reduce
(50%of Purchase Price from
QMCS, or Reseller After
Purchase Price by 20%
Reduction in Column D)
Total Amount of Requested Tax Credit (Sum Total of Column D)
$
Information on completing the Requested Tax Credit Calculation Worksheet is available on page 3 of the application.
12. Supporting Documentation Checklist
Required Documentation
Acceptable Documentary Evidence
Yes/No
Copy of itemized invoice that clearly identifies the purchase
(1) Proof of Purchase
price and name of each cybersecurity technology or service
Yes
No
purchased and listed in Section 9.
Copy of a receipt marked paid; OR, evidence of a wire transfer,
(2) Proof of Payment
canceled check, credit card statement, or bank statement that
Yes
No
clearly identifies the vendor that sold the cybersecurity
technology or service.
Page 1 of 4
BUY MARYLAND CYBERSECURITY TAX CREDIT
QUALIFIED MARYLAND COMPANY (BUYER)
TAX CREDIT APPLICATION
APPLICATION FOR TAX YEAR 2018
IMPORTANT – Because the Buy Maryland Cybersecurity Tax Credit is limited and capped, applications
are accepted on a first come, first served basis. Signature required.
1. Full Legal Name of Organization
2. Federal Employer Identification Number (FEIN)
3. Unemployment Insurance Number
4. Legal Form of Entity
C Corporation
S Corporation
LLC
LLP
Limited Partnership
General Partnership
LLLP
Other (Provide Legal Form of Entity):
5. NAICS Code
6. Total Number of Maryland Employee(s)
7. Name of Cybersecurity Seller (Company that Sold the Cybersecurity Technology or Service)
8. Total Amount of Requested Tax Credit (
)
$
Total from Column E in Section 9
9. Buy Maryland Cybersecurity – Requested Tax Credit Calculation Worksheet
A
B
C
D
E
Cybersecurity Purchase
Type of
Purchase
For Purchases Made
Requested Tax Credit
Purchase
Price
from a Third-Party
Amount
Reseller: Reduce
(50%of Purchase Price from
QMCS, or Reseller After
Purchase Price by 20%
Reduction in Column D)
Total Amount of Requested Tax Credit (Sum Total of Column D)
$
Information on completing the Requested Tax Credit Calculation Worksheet is available on page 3 of the application.
12. Supporting Documentation Checklist
Required Documentation
Acceptable Documentary Evidence
Yes/No
Copy of itemized invoice that clearly identifies the purchase
(1) Proof of Purchase
price and name of each cybersecurity technology or service
Yes
No
purchased and listed in Section 9.
Copy of a receipt marked paid; OR, evidence of a wire transfer,
(2) Proof of Payment
canceled check, credit card statement, or bank statement that
Yes
No
clearly identifies the vendor that sold the cybersecurity
technology or service.
Page 1 of 4
BUY MARYLAND CYBERSECURITY TAX CREDIT
QUALIFIED MARYLAND COMPANY (BUYER)
TAX CREDIT APPLICATION
IMPORTANT – Because the Buy Maryland Cybersecurity Tax Credit is limited and capped, applications are
accepted on a first come, first served basis. Signature required.
Collection of Personal Information: In accordance with Executive Order 01.01.1983.18, the Department of
Commerce (“COMMERCE”) advises you as follows: Certain personal information requested by the Department is
necessary in determining your eligibility. Failure to disclose this information may result in the denial of one of these
benefits or services. Availability of this information for public inspection is governed by the provisions of the Maryland
Public Information Act, General Provisions Article, Section 4-101 et seq. of the Annotated Code of Maryland. This
information will be disclosed to appropriate staff of the Department and other public officials for purposes directly
connected with administration of the program for which its use is intended. Such information is routinely shared with
State, federal or local government agencies. You have the right to inspect, amend or correct personal records in
accordance with the Maryland Public Information Act.
Publicity: The applicant agrees that COMMERCE may issue press releases and otherwise publicize information
about the applicant’s qualification for the Buy Maryland Cybersecurity Tax Credit.
Revocation of Tax Credit: The applicant agrees that COMMERCE may notify the Comptroller of Maryland to revoke
the tax credit at any time, which can include a demand for repayment of the tax credit, if COMMERCE discovers any
material mistake, misrepresentation, or fabrication during the verification process of a company, and its eligibility for
the Buy Maryland Cybersecurity Tax Credit.
Affidavit: I solemnly affirm under the penalties of perjury and upon personal knowledge that the business applying
for the Buy Maryland Cybersecurity Tax Credit has fewer than 50 employees in Maryland, and is required to file an
income tax return in Maryland.
I further affirm that all information in this application and in all supporting documentation is true and correct.
Signature of Employer / Employer’s Representative
Employer / Employer’s Representative Name (Print)
Business Name:
Title
Phone:
Email:
Date:
Contact Information (if different from above)
Name (Print):
Title:
Phone:
Email:
Please submit your applications plus attachments via courier or by mail to the Department of Commerce, ATTN: Tax Incentives,
World Trade Center, 401 E. Pratt Street, 17th Floor, Baltimore, Maryland 21202.
Page 2 of 4
BUY MARYLAND CYBERSECURITY TAX CREDIT
QUALIFIED MARYLAND COMPANY (BUYER)
TAX CREDIT APPLICATION
Additional Application Information
NACIS Code
Information regarding a company’s North American Industry Classification System (NAICS) Code requested in
Section 5 of the application is available at:
https://www.census.gov/eos/www/naics/
Qualified Maryland Cybersecurity Seller versus Third-Party Reseller
A Qualified Maryland Cybersecurity Seller (QMCS) is a company certified by the Maryland Department of
Commerce that creates, develops, produces or sells proprietary cybersecurity technologies or provides eligible
cybersecurity services.
A third-party reseller is any company that sells cybersecurity technologies or services that is not certified by the
Department of Commerce as a Qualified Maryland Cybersecurity Seller. To claim the BMC tax credit for
purchases made from a reseller, a company must be able to clearly demonstrate that its purchase from a reseller
is a QMCS’s technology or service.
Eligible Cybersecurity Service
A qualified cybersecurity service is a service provided by a cybersecurity company that primarily performs an
activity identified by the National Institute of Standards and Technology’s (NIST) most recent Cybersecurity
Framework: Framework Core. Version 1.1 of the NIST Framework Core is available at:
https://nvlpubs.nist.gov/nistpubs/CSWP/NIST.CSWP.04162018.pdf
Completing the Buy Maryland Cybersecurity Requested Tax Credit Calculation
Worksheet
A. Cybersecurity Purchase – Identify the name of each individual cybersecurity technology or
service purchased for which the tax credit is being claimed.
B. Type of Purchase – Identify the type of purchase as a technology or service for each individual
cybersecurity purchase for which the tax credit is being claimed.
C. Purchase Price – Provide the itemized purchase price for each individual cybersecurity
technology or service purchased.
D. Reseller Reduction – Calculate the costs eligible for the tax credit for purchases made from a
.
.
third-party reseller by multiplying the purchase price by
20
E. Calculate the amount of the requested tax credit:
1. Calculate the amount of the requested tax credit for each individual cybersecurity
.
technology or service by multiplying the eligible cost of the purchase price by
5 (see tax
credit examples following the application instructions); and then,
2. Add the individual amounts of the requested tax credit for each cybersecurity technology
or service in Column D to calculate the total amount of the requested tax credit.
 Proof of purchase and proof of payment must be provided for each individual cybersecurity
technology or service for which the tax credit is being claimed. For purchases from a third-party
reseller, ensure that the invoice clearly identifies the cybersecurity technology or service and the
QMCS that provided the technology or service to the third-party reseller. Applications that do not
include proof of purchase and proof of payment will not be processed.
 The amount of the requested tax credit is subject to verification and certification by the Department of
Commerce and to available funds. The amount of the tax credit certified by the Department of
Commerce may differ from the amount of the tax credit requested by the applicant.
Page 3 of 4
BUY MARYLAND CYBERSECURITY TAX CREDIT
QUALIFIED MARYLAND COMPANY (BUYER)
TAX CREDIT APPLICATION
Requested Tax Credit Calculation Examples
Example 1: Purchase made directly from a Qualified Maryland Cybersecurity Seller
Purchase price of cybersecurity technology or service
$2,000
Calculate the 50% of purchase price tax credit ($2,000 x .5 = $1,000)
Tax Credit Amount
$1,000
Example 2: Purchase made from a third-party reseller*
Purchase price of cybersecurity technology or service purchased from third-party reseller
$2,000
Calculate the 20% reduction to reseller purchase price ($2,000 x .20 = $400), and then subtract the
reduction from the purchase price ($2,000 - $400 = $1,600) to identify costs eligible for tax credit
-$400
Amount of cybersecurity purchase cost eligible for tax credit
$1,600
Calculate the amount of the 50% of purchase price tax credit
($1,600 x .5 = $800)
Tax Credit Amount
$800
*The law governing the Buy Maryland Cybersecurity Tax Credit requires that the calculation of the tax credit be
based upon the purchase price of cybersecurity technologies or services from a Qualified Maryland Cybersecurity
Seller (QMCS), and may not include any costs added by a third-party reseller. The 20% reduction to the
purchase price from a third-party reseller reflects the Department of Commerce’s estimate of the average costs
added by a third-party reseller to the price of QMCS’s cybersecurity technologies or services.
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