Businesses taxes paid electronically


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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