Tax credit -- For tax paid to other state

1. Law
2. Maryland Code
3. General
4. Franchise Taxes
5. Financial Institution Franchise Tax
6. Tax credit -- For tax paid to other state

    A savings bank or savings and loan association doing business outside this State may claim a credit against the financial institution franchise tax equal to the amount paid to another jurisdiction as:

        (1)    a tax based on savings accounts or saving share accounts bought in this State;

        (2)    a tax on gross receipts from business done in this State; or

        (3)    a tax on income derived from business done in this State.

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