Mary­land of­fers sup­port to small busi­nesses pro­vid­ing paid sick leave

The Avenue News - - SOLUTIONS -

Small busi­nesses in Mary­land that pro­vide paid sick and safe leave to their em­ploy­ees will soon be able to ap­ply for a re­fund­able tax credit ad­min­is­tered by the Mary­land Depart­ment of Com­merce. The Small Busi­ness Re­lief Tax Credit of­fers busi­nesses that meet cer­tain cri­te­ria a state in­come tax credit of up to $500 per em­ployee and $7,000 per small busi­ness for ev­ery year in which they qual­ify.

“Small busi­nesses are the back­bone of our econ­omy and play a crit­i­cal role in cre­at­ing jobs, grow­ing our econ­omy, and strength­en­ing our com­mu­ni­ties,” said Gov­er­nor Larry Ho­gan. “Our ad­min­is­tra­tion re­mains com­mit­ted to work­ing in part­ner­ship with our busi­ness com­mu­nity, and this tax credit is one of many steps we are tak­ing to en­sure that Mary­land re­mains open for busi­ness.”

The tax credit pro­gram was pro­posed and en­acted by Gov­er­nor Ho­gan to help busi­nesses com­ply with the Mary­land Healthy Work­ing Fam­i­lies Act, which was passed by the Mary­land Gen­eral As­sem­bly in early 2018 and re­quires busi­nesses with 14 or fewer em­ploy­ees to pro­vide un­paid sick and safe leave.

“Mary­land’s small busi­ness com­mu­nity em­ploys more than one mil­lion peo­ple, mak­ing it one of our most pow­er­ful and im­por­tant eco­nomic as­sets,” said Mary­land Com­merce Sec­re­tary Mike Gill. “We en­cour­age small busi­nesses that are pay­ing sick leave to con­sider ap­ply­ing for this credit, which will help them con­tinue to be able to sup­port their em­ploy­ees.”

Any type of small busi­nesses, in­clud­ing non­prof­its, may ap­ply for the credit as long it has 14 or fewer em­ploy­ees. Busi­nesses may ap­ply ev­ery year for each em­ployee mak­ing less than 250 per­cent of the an­nual fed­eral poverty guide­lines for a sin­gle-per­son house­hold (cur­rently $30,350 per year).

The Mary­land Depart­ment of Com­merce will be­gin ac­cept­ing ap­pli­ca­tions for the credit for tax year 2018 on Jan­uary 3, 2019. More in­for­ma­tion about el­i­gi­bil­ity re­quire­ments and how to ap­ply can be found at http://com­merce. mary­land.gov/fund/pro­grams-for-busi­nesses/small­busi­ness-re­lief-tax-credit.

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