Preceptor Tax Credit Program Qualifications
In order to qualify for the tax credit under the Preceptor Tax Credit Programs, a health professional must meet the criteria described below during the Tax Year for which they are applying for a tax credit. Qualification criteria include specific attributes related to:
-
Type of professional/preceptor
-
Student type
-
Enrollment of students in a recognized preceptorship program
-
Rotation hours
-
Preceptor practice site location
Qualifying Professionals/Preceptors, Student Types, and Preceptorship Programs
Healthcare professionals must serve without compensation as a preceptor of an eligible student type, in a recognized preceptorship program. A preceptorship program means an organized system of clinical experience for the purpose of attaining specified learning objectives. See the chart below for qualifying professionals, student types, and preceptorship programs:
Qualifying Professionals/Preceptors |
Qualifying Student Type |
Medical |
NP
|
PA
|
RN
|
LPN
|
Physician (MD or DO) |
✔ |
✔ |
✔ |
|
|
Advanced Practice Registered Nurse (APRN) |
|
|
|
|
|
Nurse Practitioner (NP) | | ✔
| ✔
| ✔
| ✔
|
Certified Nurse Midwife (CNM)
|
|
|
|
✔ |
✔ |
Clinical Nurse Specialist (CNS)
|
|
|
|
✔ |
✔ |
Certified Registered Nurse Anesthetist (CRNA)
|
|
|
|
✔ |
✔ |
Physician Assistant (PA) |
|
|
✔ |
|
|
Registered Nurse (RN) |
|
|
|
✔ |
✔ |
Licensed Practical Nurse (LPN) |
|
|
|
|
✔ |
Recognized Preceptorship Programs |
In-state |
UMD, JHU |
See link | See Link
|
See link |
See link |
Out-of-state |
N/A |
See link |
N/A |
See link
|
Qualifying Rotation Hours
Healthcare professionals must act as a preceptor for a minimum of three distinct rotations, each consisting of at least 100 hours (a minimum total of 300 preceptor hours) of community–based clinical training within a taxable year.
A physician assistant student preceptor must act as a preceptor for a minimum of three rotations, each consisting of at least 100 hours of community–based clinical training in family medicine, general internal medicine, or general pediatrics.
Qualifying Practice Sites
Health care professionals must provide the community clinical preceptorship rotations at a practice site located within an area with health care workforce shortages determined by being situated within one of the following, a:
Click on the links associated with each shortage designation to determine a practice site's inclusion in the criteria.
Credit Amounts and Limits
-
Tax credit certificates will be issued by MDH in the amount of $1,000 for each rotation for which a Physician, Physician Assistant, Advanced Practice Registered Nurse, or Licensed Practical Nurse acted as a preceptor without compensation and meets all other qualifying criteria.
-
Tax credits may not exceed $10,000 per individual preceptor per tax year.
-
Tax credits are issued on a first come first serve basis as applications are received, and are based on the availability of funding each tax year.
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