Maryland Arts and Entertainment District Designation
In Maryland, the State Department of Business and Economic Development designates certain neighborhoods “arts and entertainment districts”, which confers three specific tax breaks. Artists who live and work in the district are offered property-tax credits on qualifying renovations, can apply for an income-tax credit when they make money on their art, and are given a waiver of the admissions and amusement tax charged by the city. Artists who live or work in Station North may qualify for certain tax breaks by submitting Form 502AE (Subtraction For Income Derived Within An Arts and Entertainment District) with their Maryland Tax Returns. Major tax benefits concerning building usage are also in place, with assessment freezes and building rehab credits to encourage growth.
Read more about this topic: Station North Arts And Entertainment District
Famous quotes containing the words arts, district and/or designation:
“Hardly any human being is capable of pursuing two professions or two arts rightly.”
—Plato (c. 427–347 B.C.)
“Most works of art, like most wines, ought to be consumed in the district of their fabrication.”
—Rebecca West (1892–1983)
“In a period of a people’s life that bears the designation “transitional,” the task of a thinking individual, of a sincere citizen of his country, is to go forward, despite the dirt and difficulty of the path, to go forward without losing from view even for a moment those fundamental ideals on which the entire existence of the society to which he belongs is built.”
—Ivan Sergeevich Turgenev (1818–1883)