image description

MD Jurisdictions That Received Overpayment Of Income Tax Receipts Will Not Have To Repay Funds

May 15th, 2017 by WCBC Radio

Maryland jurisdictions that received $21 million in overpayments of income tax receipts between 2010 and 2014 will not have to pay it back under a bill passed last month in the Maryland General Assembly. The bill was sponsored by the State Senator George Edwards and Sen. Richard Madaleno. Last fall Comptroller Peter Franchot reported that $21 million in overpayments of local income tax revenue were sent to 86 jurisdictions in tax years 2010 to 2014. It was also discovered that 83 jurisdictions were short-changed and got less than their share of local income tax receipts. Franchot’s remedy was swift and money went immediately to the jurisdictions that were short changed. Jurisdictions that received overpayments were given 10-year payment plans that was to run from 2024 to 2034- but that plan is now dead and towns and cities won’t have to re-pay the state…





 

Leave a Reply

 



View Mobile Site