Join NACo Monday for a Federal Policy Update

The National Association of Counties (NACo) on Monday, September 21, will host a national membership call to update counties on the latest information regarding the next potential COVID-19 relief package and other timely topics, including FEMA disaster assistance and the U.S. Treasury’s Coronavirus Relief Fund. The bipartisan congressional Problem Solvers Caucus this week introduced the “March to Common Ground” framework for the next possible coronavirus relief package, which includes additional aid for counties to address…

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Comptroller Franchot Offers Insight, Guidance at MACo Meeting

Comptroller Peter Franchot joined MACo's Legislative Committee meeting on September 16, sharing his perspectives on the health/economic crisis, the state budget picture, and the road ahead for Maryland. Comptroller Franchot virtually visits the MACo Legislative Committee The Comptroller joined MACo's meeting with updates on a variety of topics about the pandemic, the economy and revenues, and county priorities. During the followup questions, he shed additional light on budget issues still pending. Some highlights: Maryland unemployment…

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U.S. Senate Kills “Skinny” COVID-19 Relief Package, Path Forward Remains Unclear

The United States Senate failed Thursday to advance a targeted COVID-19 relief package, dampening the prospects that Congress will pass another round of much-needed financial relief to mitigate the economic and health care crises. The legislation, Delivering Immediate Relief to America’s Families, Schools, and Small Businesses Act, would have provided $500 billion in federal spending and loans, but also contained offsets in the form of rescissions of hundreds of billions in unspent funding authorized under…

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State Revenues Exceed Expectations, But Economic Uncertainty Looms

General Fund revenues in fiscal 2020 totaled $18.634 billion, an increase of 2.4% ($435.1 million) over FY 2019, and 0.5% ($102.2 million) below the March estimate. Personal and corporate income tax revenue exceeded expectations, while sales and use tax revenue came in lower than expected. Maryland Comptroller Peter Franchot today announced that as the State closes out fiscal 2020, General Fund revenues totaled $18.634 billion, an increase of 2.4% ($435.1 million) over FY 2019, and…

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Cecil Opens Payment Windows at County Admin Building

The Cecil County Department of Finance today opened two new payment windows for in-person collections in the lobby area at the County Administration Building beginning. In order to protect the health and safety of members of the public and County employees, the payment windows -- which will be open Monday through Friday from 8:00 am - 4:30 pm  -- are the only area of the administration building that is accessible to the public. Access to…

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Comptroller Franchot: Remain Vigilant Against Tax Scams

Maryland Comptroller Peter Franchot is reminding Marylander taxpayers to remain vigilant as there has been a sharp increase in scams ranging from stimulus check theft and grant money offers to elder financial fraud schemes and persons posing as tax collectors. “We are aware that thieves are upping their game during this pandemic, and it is important for Marylanders to keep their elbows up,” Comptroller Franchot said. “My office will never call you and ask for…

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IRS Issues Guidance Implementing President’s Payroll Tax Holiday

The Internal Revenue Service (IRS) on Friday issued much-anticipated guidance on the payroll tax deferral that was ordered by President Donald Trump in a presidential memorandum earlier this month. According to Notice 2020-65, employers — including county governments — may defer Social Security payroll taxes on eligible employees’ compensation during the last four months of 2020 and then withhold those deferred amounts during the first four months of 2021. The president signed the memorandum on…

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Tax Strategies for Your Retirement Income

Don’t miss MACo’s Summer Series Solutions Showcase on creating a sustainable retirement income through a better understanding of tax strategies. MACo’s Summer Series includes content directly aimed at solving common governance and administrative challenges. Ensuring employees are prepared for retirement is just one of those administrative challenges. Nationwide Retirement Solutions (NRS), a MACo Platinum Corporate Partner, will host a live session to explain how taxes can impact retirement income, and share strategies for saving. Register…

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Casino Revenue Slump: Contributions to Education Trust Fund Down $146M

The Maryland Lottery and the state’s six casinos contributed a combined $1.113 billion to state's coffers in FY 2020, a 15.1% decrease from FY 2019, according to the Maryland Lottery and Gaming Control Agency. Lottery profits — in spite of the COVID19 pandemic — totaled $588.7 million, which is just $4.5 million (-0.8%) shy of last year’s record-setting figure. But, with the state's six casinos closed for nearly the entire fourth quarter of FY 2020,…

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