Businesses taxes paid electronically

MARYLAND WATCH

September 14, 1996

Maryland businesses turned with gusto to making tax payments electronically in 1996.

In fact, computerized filing has become the preferred method for a majority of Maryland businesses to transfer their sales tax and other tax payments to the state, says State Comptroller Louis L. Goldstein.

In tabulating year-end sales and income tax collections for fiscal year 1996, which ended June 30, state officials found that about $4 billion, or 57 percent, of income withholding taxes and sales and use taxes were paid by electronic transfers.

The comptroller's office said that 50 percent, or about $195 million, of all corporate tax receipts and 75 percent, or $488 million, of motor fuel taxes were paid electronically.

The state requires that any tax payments of $20,000 or more be paid electronically by businesses. But the computerized filing option was opened up to all businesses this year, a factor in its increased use.

Business taxpayers must apply to be included in the electronic payment program. Information on the program can be obtained by calling (410) 974-2601.

Pub Date: 9/14/96

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