Maryland Code, TAX – GENERAL 11-303
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Terms Used In Maryland Code, TAX - GENERAL 11-303
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Personal property: All property that is not real property.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(a) A buyer is allowed a depreciation allowance as an adjustment to taxable price if:
(1) tangible personal property, a digital code, a digital product, or a taxable service is acquired before the tangible personal property, digital code, or digital product is brought into the State for use in the State or before the taxable service is used in the State; and
(2) the use first occurs in another state or federal jurisdiction.
(b) The allowance under subsection (a) of this section for each full year that follows the date of purchase is 10% of the taxable price paid to acquire the tangible personal property, digital code, digital product, or taxable service.