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By Annapolis Bureau | April 2, 1992
ANNAPOLIS -- Maryland sales tax collections in March not only exceeded estimates, but also exceeded actual collections for the same month in each of the past two years, signaling that an economic recovery is under way, the state's chief tax collector said."
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NEWS
March 10, 2014
The announcement last week by Maryland's Board of Revenue Estimates that the state will be taking in $238 million less in taxes this year and next was certainly unwelcome, and it complicates the already difficult task the General Assembly faces in enacting a balanced budget before it adjourns in April. The amount of tooth-gnashing it has prompted, however, is wildly out of proportion to its actual impact on the state's overall spending plans. Comptroller Peter Franchot, who as chairman of the Board of Revenue Estimates was on hand to approve the new figures on Thursday, told The Washington post that the numbers are "proof positive that something is wrong.
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NEWS
By Thomas W. Waldron and Thomas W. Waldron,SUN STAFF | June 9, 1998
Maryland's fiscal picture remains remarkably rosy as state revenues continue to significantly outpace projections made only three months ago, officials said yesterday.During the fiscal year that ends June 30, the state has taken in almost $90 million more than had been projected as recently as March.In all, thanks to Maryland's robust economy, state revenues are expected to be about $450 million higher than projected a year ago for the current fiscal year.Much of the newest revenue surge is because of higher-than-expected income tax collections -- much of it on capital gains, said a spokesman for state Comptroller Louis L. Goldstein.
NEWS
By Luke Broadwater, The Baltimore Sun | October 8, 2013
Chronic mistakes in Baltimore's tax bills commanded attention at City Hall Monday as the mayor said her administration is fixing the problems and the comptroller ordered an audit nonetheless. Mayor Stephanie Rawlings-Blake said the city is implementing an automated system to reduce mistakes - which officials acknowledged have cost the city $11 million in the past decade - and she asked citizens to give finance officials "a chance to work. " But a City Council chairman called for an audit, and Comptroller Joan M. Pratt said her office has asked for the documents needed to perform one. "I want to make sure the citizens are being billed properly," Pratt said.
BUSINESS
By Jay Hancock and Jay Hancock,SUN STAFF | January 18, 1998
Finally.Maryland's term on the economic tundra seems over. After eight years of unaccustomed slow growth, employment turbulence and fiscal doubt, the state has rejoined the nation in the sunny commercial uplands.Maryland gave birth to 40,000 jobs last year and is expected to mint at least another 40,000 this year. How good is 40,000 jobs? From 1989 to 1996, the state managed to add 54,000 jobs -- less than 8,000 annually.Unemployment is down. Incomes are up, and so are tax collections. Layoffs have dwindled.
NEWS
September 19, 1997
IT MAY BE September, but June is busting out all over. The city has counted the taxes collected for the last month of the past fiscal year and discovered several records were broken. Property tax collections for June reached $9.6 million, compared to $2.3 million for June 1996. Personal property tax revenue was $3.3 million, compared to $527,000 for June 1996. Penalties and interest reached $2.6 million, compared to $580,000 in June 1996.But it doesn't stop there. Income tax revenue was $19.3 million, compared to $15.6 million in June 1996.
NEWS
By JoAnna Daemmrich and JoAnna Daemmrich,SUN STAFF Sun staff writer Thomas W. Waldron contributed to this article | September 2, 1998
Maryland finished its financial year in remarkably good shape with a $117 million surplus that is the largest in a decade, officials said yesterday.During the fiscal year that ended June 30, state revenues by far exceeded projections, chiefly because of higher-than-expected income tax collections generated by Maryland's robust economy.Gov. Parris N. Glendening called it "very good news," and said if re-elected, he would seek to devote a significant portion of the surplus to renovating and building schools.
NEWS
By Matthew Cox and Matthew Cox,BLOOMBERG NEWS SERVICE | March 10, 2002
ALBANY, N.Y. - New York state tax collections in the first two months of 2002 are falling 6.6 percent short, or $500 million below projections made just six weeks ago in Gov. George E. Pataki's proposed budget, state officials said. The January tax collection was $179 million lower than anticipated, state officials said. The February take was $321 million below the target. The decline surprised state officials because Pataki's budget proposal was based on post-Sept. 11 assessments, and its revenue estimates were supposed to reflect the lost jobs, relocations and business interruptions caused by the terrorist attack on the World Trade Center.
NEWS
By David Nitkin and David Nitkin,SUN STAFF | May 17, 2003
Maryland continues to collect less sales and income tax revenues than expected, raising the possibility that the state will end the budget year with a deficit for the first time since 1992. The dour revenue outlook likely will mean that Gov. Robert L. Ehrlich Jr. will cut even deeper into the coming fiscal year's budget, which takes effect on July 1. The administration is already preparing for up to $500 million in reductions to be made in the next several weeks, the first phase in closing a projected $1 billion gap between receipts and expenses.
NEWS
By Andrew A. Green and Andrew A. Green,SUN REPORTER | December 14, 2007
Maryland's tax collections are coming in on target this year, according to newly released state figures, but Board of Revenue Estimates members cautioned that the economic picture remains uncertain. The latest estimates are in line with those that state lawmakers used as the basis for tax increases and recommended cuts in future spending they enacted during last month's special session, meaning that barring an economic slowdown or huge new spending programs, the state will not likely return to the days of projected deficits anytime soon.
NEWS
By Luke Broadwater and The Baltimore Sun | October 7, 2013
A city councilman is calling for an "immediate and thorough" audit of the city's finance department after The Sun reported on persistent tax bill errors that have caused the city to miss out on revenue. Councilman Carl Stokes, chairman of the council's taxation committee, plans to introduce two resolutions Monday about the issue. The first resolution calls for the audit, which Stokes says is necessary to "determine exactly what errors have been made in administering the city's property tax programs and how much these errors are costing the city.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 22, 2013
Medifast, a maker of weight-loss food products in Owings Mills, said it will begin collecting sales and use taxes on all Internet sales where applicable starting in September. The company said it was doing so as more state legislatures and revenue agencies seek to enforce sales tax on online purchases. The company expects that enforcement trend to continue. The company will assess the sales tax based on the shipping address provided by the customer. Consumers will see the sales tax charge at the online checkout.
NEWS
By Michael Dresser, Baltimore Sun | August 30, 2012
Comptroller Peter Franchot urged Thursday that the state bank about $229 million in unexpected money with which it closed out the books on its last budget year, contending that Maryland's economy remains "exceedingly fragile. " The comptroller, whose office released the final numbers for the budget year that ended June 30, recommended that the General Assembly add remaining fund balance to the state's Rainy Day Fund. The figures the comptroller released were in line with a report in The Sun Thursday that reported the state had ended fiscal 2012 with roughly $225 million more than had been expected.  The additional funds will give Gov. Martin O'Malley additional flexibility as his administration prepares next year's budget, which will go to the legislature next January.
NEWS
April 30, 2012
Baltimore's property tax rate is high (that's one thing that everyone that owns a home or business in the city can agree on) so nothing makes the blood boil quite like news that someone has successfully avoided paying their fair share — except, perhaps, finding out it wasn't a case of avoidance so much as lax enforcement. That's what appears to have happened in the case of some of the city's priciest condos, as recently uncovered by reporter Jamie Smith Hopkins . Baltimore lost out on more than $10 million in property tax revenue over the last several years because some 200 luxury condos were assessed as if they were little more than holes in the ground.
BUSINESS
Eileen Ambrose | February 20, 2012
Each year, the IRS puts out a list of the top 12 scams to watch out for -- or not perpetrate. This year's list : Identity theft The IRS says it has a comprehensive strategy targeting ID theft. It also has increased internal reviews “to spot false tax returns before tax refunds are issued and is working to help victims of identity theft refund schemes.” Phishing , in which a thief sends an email or sets up a fake website with the hope of luring consumers to giving up some of their personal information.
NEWS
By Annie Linskey, The Baltimore Sun | December 9, 2011
After a series of cheerful announcements about better-than-expected tax revenues, Maryland's Board of Revenue Estimates reversed that Friday, projecting that the state would take in $120 million less, mostly blaming weaker-than-expected sales tax figures. "It means [the General Assembly] needs to be very careful about spending and borrowing," said Comptroller Peter Franchot, who chairs the revenue panel. "I've been very consistent to say we are in a very fragile, feeble recovery. We owe it to be very honest about jobs and the housing market and not be constantly cheerleading.
NEWS
By Annapolis Bureau | April 2, 1992
ANNAPOLIS -- Maryland sales tax collections in March not only exceeded estimates, but also exceeded actual collections for the same month in each of the past two years, signaling that a recovery is under way, the state's chief tax collector said yesterday."
BUSINESS
October 19, 1995
Your hunch was right. Your employer is making a lot more money. You're not.Thanks to higher profits, tax collections from Maryland corporations soared by 12.6 percent during August and September, compared with the same months last year.By contrast, personal income tax received from Marylanders rose only 4.6 percent. The $575.3 million collected in personal income tax for the two months was actually 2.6 percent less than what state budget gnomes had expected it to be.Corporate tax receipts, on the other hand, are 2.2 percent ahead of expectations.
NEWS
September 4, 2011
In the latest battle between the states, officials in Virginia and Maryland are squaring off over whose budget-balancing prowess is greater. First, after Virginia Gov. Bob McDonnell announced his state ended the year with $544 million in cash, $234 million more than expected, the Republican Party there crowed that Maryland Gov. Martin O'Malley was, at the same time, predicting a $1 billion shortfall and floating the possibility of tax increases....
NEWS
September 26, 2010
It comes as no surprise that Gov. Martin O'Malley and former Gov. Robert L. Ehrlich Jr. are duking it out in this fall's election over their respective records as Maryland's chief executive. Evaluating who did a better job running the state is important. But so is a sense of where either man would lead us during another four (or, in Mr. Ehrlich's case, potentially eight) years in office. Mr. Ehrlich recently released "Roadmap to 2020," a compendium of ideas he hopes to pursue. It is vague in many of the specifics and frequently fails to address circumstances that have changed since he left office.
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