Coronavirus / County Budgets / County News / NACo and Federal Issues / State Budget and Fiscal Issues / Taxes and Revenues
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…

Comments Off on Join NACo Monday for a Federal Policy Update
September 18, 2020
Comptroller Franchot Offers Insight, Guidance at MACo Meeting
Business Affairs / Employee Benefits and Relations / General Assembly News / Health and Human Services / State Budget and Fiscal Issues / Taxes and Revenues
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…

Comments Off on Comptroller Franchot Offers Insight, Guidance at MACo Meeting
September 18, 2020
U.S. Senate Kills “Skinny” COVID-19 Relief Package, Path Forward Remains Unclear
Coronavirus / County Budgets / County News / NACo and Federal Issues / News You Can Use / State Budget and Fiscal Issues / Taxes and Revenues
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…

Comments Off on U.S. Senate Kills “Skinny” COVID-19 Relief Package, Path Forward Remains Unclear
September 11, 2020
State Revenues Exceed Expectations, But Economic Uncertainty Looms
Business Affairs / Coronavirus / County Budgets / County News / General Assembly News / State Budget and Fiscal Issues / Taxes and Revenues
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…

Comments Off on State Revenues Exceed Expectations, But Economic Uncertainty Looms
September 9, 2020
Cecil Opens Payment Windows at County Admin Building
Coronavirus / County News / News You Can Use / Taxes and Revenues
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…

Comments Off on Cecil Opens Payment Windows at County Admin Building
September 8, 2020
Comptroller Franchot: Remain Vigilant Against Tax Scams
Coronavirus / County News / News You Can Use / Taxes and Revenues
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…

Comments Off on Comptroller Franchot: Remain Vigilant Against Tax Scams
September 3, 2020
IRS Issues Guidance Implementing President’s Payroll Tax Holiday
Business Affairs / Coronavirus / County News / NACo and Federal Issues / News You Can Use / Taxes and Revenues
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…

Comments Off on IRS Issues Guidance Implementing President’s Payroll Tax Holiday
August 31, 2020
Tax Strategies for Your Retirement Income
Corporate Partners / County News / Employee Benefits and Relations / MACo Events / Summer Series / Taxes and Revenues
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…

Comments Off on Tax Strategies for Your Retirement Income
August 26, 2020
Casino Revenue Slump: Contributions to Education Trust Fund Down $146M
Coronavirus / County News / Education / General Assembly News / News You Can Use / State Budget and Fiscal Issues / Taxes and Revenues
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,…

Comments Off on Casino Revenue Slump: Contributions to Education Trust Fund Down $146M
August 25, 2020
Older Posts →

© 2019 All rights reserved

Close Menu