St. Mary’s Launches Program to Incentivize Commercial Revitalization
County News / Economic Development / News You Can Use / Taxes and Revenues
St. Mary’s Launches Program to Incentivize Commercial Revitalization

St. Mary’s County this week announced a new program to stimulate and incentivize investment in commercial real property by providing tax relief to commercial property owners. The "Property Tax Challenge" program aims to spur renovations and upgrades to commercial properties in targeted areas by allowing owners to pay taxes based on the property’s pre-renovation value rather than the higher assessment triggered by the upgrades. Under the program, commercial property owners in targeted areas who invest…

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July 20, 2021
Speaker Jones Wants Cannabis on 2022 Ballot, Announces Workgroup
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Speaker Jones Wants Cannabis on 2022 Ballot, Announces Workgroup

Speaker of the House Adrienne Jones last week announced support for a referendum to legalize cannabis on the 2022 General Election ballot.  “While I have personal concerns about encouraging marijuana use, particularly among children and young adults, the disparate criminal justice impact leads me to believe that the voters should have a say in the future of legalization,” said Speaker Jones. “The House will pass legislation early next year to put this question before the…

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July 19, 2021
Following 90-Day Extension, State Income Taxes Due Tomorrow, July 15
County News / News You Can Use / Taxes and Revenues
Following 90-Day Extension, State Income Taxes Due Tomorrow, July 15

Taxpayers can set up payment plans if unable to pay the full amount. Comptroller Peter Franchot reminds taxpayers that Maryland state income taxes are due tomorrow, July 15, after a 90-day filing and payment extension, which was the most generous in the nation. "Many Marylanders were hit hard by the pandemic, so extending the deadline was the compassionate and commonsense thing to do," Comptroller Franchot said. "If you're unable to pay what you owe, our…

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July 14, 2021
Comptroller Extends Filing, Payment Deadlines for Pass-Through Entities
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Comptroller Extends Filing, Payment Deadlines for Pass-Through Entities

Maryland Comptroller Peter Franchot today extended the filing deadline for 2020 income tax returns from Pass-Through Entities (PTEs) to September 15, 2021, due to new laws requiring extensive changes to PTE tax forms, which are now available on the Comptroller’s website. Taxpayers who file PTE returns and pay any outstanding liabilities by September 15 will not be charged interest or pay a penalty. No further action is required for PTEs to receive this waiver; it…

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June 30, 2021
Montgomery Approves Working Families Income Supplement, Expanding Tax Credit Eligibility
County News / Taxes and Revenues
Montgomery Approves Working Families Income Supplement, Expanding Tax Credit Eligibility

Montgomery County Council unanimously approved the Working Families Income Supplement Bill, which alters certain requirements for residents to qualify for the Working Families Income Supplement (WFIS). On March 5, 2021, the Maryland General Assembly enacted Senate Bill 218 – Child Tax Credit and Expansion of the Earned Income Credit. The emergency bill expanded eligibility requirements of the state and local earned income tax credits, which also increased the state and local poverty level credits, by…

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June 16, 2021
Maryland Casinos Set New Monthly Revenue Record
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Maryland Casinos Set New Monthly Revenue Record

For the second time in three months, Maryland’s six casinos set a single-month gaming revenue record, generating $172,394,450 during May 2021, according to the Maryland Lottery and Gaming Control Agency. The figure surpasses the previous single-month record of $169,179,016, which was set in March 2021. Last month's casino revenue represents an increase of $20,118,651 (13.2 percent) compared to May 2019, when gaming revenue was $152,275,799. All six casinos were closed throughout May 2020 due to…

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June 8, 2021
Hogan Vetoes Local Income Tax Flexibility
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Hogan Vetoes Local Income Tax Flexibility

Governor Larry Hogan has vetoed HB 319, a bill that evolved and passed through the late stages of the 2021 Legislative Session to provide counties with the proper tools and flexibility to levy the local income tax with greater equity and fairness. Unlike state income taxes, which levy progressively higher rates on larger incomes, the county income tax is currently set by Maryland law at one flat rate applying to all taxable income, regardless of…

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June 2, 2021
Pandemic Relief Spending Exceeds $62 Billion in Maryland
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Pandemic Relief Spending Exceeds $62 Billion in Maryland

More than $62 billion in federal and state pandemic relief funds has been spent so far in Maryland, State Deputy Budget Secretary Marc Nicole told the Comptroller’s Workgroup on Pandemic Spending, which met for the first time Thursday. The largest buckets of aid – representing more than half the total amount – have gone towards direct stimulus payments, unemployment benefits, and small business loans. The federal government provided the State of Maryland and local governments…

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May 20, 2021
Tax Court Upholds Reduced Rate for Wynne Refunds
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Tax Court Upholds Reduced Rate for Wynne Refunds

The Maryland Tax Court rejected assertions that the Maryland Comptroller's decision to apply a reduced interest rate for unpaid refunds resulting from the U.S. Supreme Court’s 2015 decision in Comptroller of Maryland v. Wynne violated the Fourteenth Amendment's established right to due process, the Fifth Amendment's protection against takings without just compensation, and the prohibition on legislation impairing vested rights established by the Maryland Constitution and Maryland Declaration of Rights. The decision is the latest chapter in…

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May 5, 2021
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