BUSINESS SUPPORT & INCENTIVES
If you are an artist who works in the District, or if you are a property owner who renovates a building for artists or an arts and entertainment purpose, we want you to succeed. We provide or help you find, the personalized support that you need to set up a business and to tell the world about it. Our designation as an Arts & Entertainment District may also allow you to use valuable tax incentives.
ADMISSIONS AND AMUSEMENT TAX EXEMPTION
Any admission or amusement fees levied by an Arts & Entertainment Enterprise or a Qualifying Residing Artist are exempt from the Admissions and Amusement Tax. Businesses must qualify for the exemption and notify the Maryland’s Comptroller’s Office in order to be eligible.
FOR A&A QUESTIONS: Call 1-800-638-2937 or email taxhelp@comp.state.md.us with your business name, address and your nine-digit federal employer identification number (FEIN) or eight-digit Maryland central registration number (CR) in your message.
INCOME TAX SUBTRACTION MODIFICATION
A qualifying residing artist may claim a subtraction for income derived from the sale, publication, production or performance of an artistic work within an arts and entertainment district, if the artist created that artistic work within any arts and entertainment district. The subtraction is only available to individuals. To qualify for the subtraction, you must be a qualifying residing artist. A qualifying residing artist means an individual who: Owns or rents residential real property in Maryland; Conducts a business in any arts and entertainment district; and, derives income from the sale, publication, production or performance within any arts and entertainment district of an artistic work that the individual created, wrote, composed or executed, either solely or with one or more other individuals, in any arts and entertainment district.
To learn more, visit the MSAC site, scroll down to the “Program Information” area and click on “Income Tax Subtraction Modification FAQ” for more helpful information.
PROPERTY TAX CREDIT
A 10-year credit reduces the increase in the Town of Bel Air property tax that occurs when the assessment increases after partial or complete renovation of a building for an arts related business. The credit is available for new construction or renovation of certain buildings that create live-work space for artists and/or space for arts and entertainment enterprises.
QUESTIONS?
If you have any questions or want to request more information, contact us and we’ll help in any way possible.
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