Biotechnology Investment Incentive Tax Credit (BIITC)

Biotechnology Investment Incentive Tax Credit (BIITC)

Offers investors in Maryland biotech firms a tax credit based on qualifying equity investment amounts.

Eligibility · United States · US-MD

The Biotechnology Investment Incentive Tax Credit (BIITC), administered by the Maryland Department of Commerce, provides Maryland income tax credits to individuals and entities that invest in Qualified Maryland Biotechnology Companies (QMBCs). The standard credit rate is 33% of eligible investment, with a maximum of $250,000 in tax credits per investor. Higher rates apply in designated areas: 50% (up to $500,000) in rural counties (Allegany, Dorchester, Garrett, Somerset) and RISE Zones; 65% (up to $575,000) in Opportunity Zone Level 1 locations; and 75% (up to $750,000) in Opportunity Zone Level 2 locations. Total credits issued annually cannot exceed the programme budget; awards are processed first-come, first-served.

To qualify, a QMBC must be headquartered and operating in Maryland, have fewer than 50 full-time employees, have been in active business no longer than 12 years, and hold Commerce certification. Investors must commit a minimum of $25,000 per investment and file income tax returns in a non-tax-haven jurisdiction. No single company's investors may have received more than $7 million in aggregate BIITC credits. The FY2026 cycle required QMBC Form B certification applications by March 31, 2026 and investor Form A applications by April 30, 2026; the online Electronic Queue registration to establish funding priority opened September 16, 2025 at 9:00 AM EST.

The application process runs in sequence: QMBCs first file Form B for Commerce certification, then investors file Form A accompanied by required documentation. After Commerce issues an Initial Certificate of Approval, the investor must make the qualifying investment within 30 days and submit proof within 10 days to receive a Final Certificate of Approval. The programme contact is Jason Sobel, Tax Specialist (jason.sobel1@maryland.gov), Maryland Department of Commerce.