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.
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