CyberRx Inc. is pleased to announce that the Maryland Department of Commerce has determined that CyberRx has met the requirements to be certified as a Qualified Maryland Cybersecurity Seller for the Buy Maryland Cybersecurity Tax Credit.
The Buy Maryland Cybersecurity Tax Credit was created in 2018 and is designed to incentive Qualified Maryland Companies that purchase cybersecurity technologies and services from qualified Maryland Cybersecurity Sellers to protect their business information.
To be eligible for the tax credit a Qualified Maryland Company must have fewer than 50 employees in Maryland and be required to file an income tax return in Maryland. Qualified companies may claim a tax credit for 50% of the net purchase price of cybersecurity technologies and services purchased from a Qualified Maryland Cybersecurity Seller. This means that a Qualified Maryland Company may claim up to $50,000 in tax credits in a single tax year for purchases of cybersecurity solutions and services from CyberRx.
“I’m proud that our State has taken a significant step forward in addressing a key barrier that many small and mid-size businesses face in prioritizing investments needed to protect their companies from cybersecurity threats,” said CyberRx CEO, Ola Sage. “We look forward to introducing current and new customers to the benefits of the new tax credit as we partner with them to improve their overall cybersecurity readiness.
Learn more about the tax credit, as well as how to become an approved buyer on the Buy Maryland Cybersecurity website.
CyberRx is a cybersecurity risk and compliance assessment software company. Headquartered in Silver Spring, MD, the company serves primarily small and mid-sized companies in regulated industries including finance, healthcare, life sciences, communications, and government. The company’s software-guided risk and compliance assessment tool helps companies determine their cybersecurity posture and gives them the guidance, tools to move forward with confidence in the world where new threats are a daily occurrence. For more information about CyberRx, visit https://cyber-rx.com.