Comptroller Franchot's Office Wins Major Tax Case; Talbots Ordered to Pay More than $1 Million
Annapolis, MD (April 17, 2008) - Emphasizing his commitment to eliminate corporate tax avoidance, Comptroller Peter Franchot announced today that Classics Chicago, a subsidiary of Talbots, Inc., was found liable to Maryland for their corporation income tax for 11 years from 1993 to 2003. The Maryland Tax Court ordered Classics to pay the state $1,092,336.00 in back taxes along with interest and ten percent in penalties. This case was the most recent victory for the Comptroller's office in an aggressive effort to crack down on corporations avoiding taxes using Delaware Holding Company tax schemes. To date, the Comptroller's office has collected $267 million in taxes through Delaware Holding Company cases, and has an additional $145 million in outstanding assessments against corporations using this tax-avoidance system.
Comptroller Franchot Extends Filing Deadline for Eastern Shore Counties Affected by Internet Outage
Annapolis, MD (April 16, 2008) - Comptroller Peter Franchot today approved a filing extension for Marylanders who live in the Eastern Shore counties affected by an internet outage that occurred on the evening of April 15 and were unable to electronically file their Maryland income tax return. The extended deadline, only for those filing their Maryland income tax return electronically, is Thursday, April 17 at midnight.
Franchot, Consumer Advocates Urge Governor to Sign Maryland Tax Preparers Act
Silver Spring, MD (April 11, 2008) - Comptroller Peter Franchot today joined with state lawmakers, consumer protection advocates and tax advocacy groups to urge Governor Martin O'Malley to sign the Maryland Individual Tax Preparers Act, legislation to protect consumers against shady tax preparers and predatory lenders. The bill, passed by the General Assembly on Monday, creates a State Board of Individual Tax Preparers that would help protect taxpayers against unscrupulous tax preparers and allow the State to track problem preparers.
Franchot Pulls Draft "Tech Tax" Regulations from Website; Applauds Efforts that led to Repeal
Annapolis, MD (April 8, 2008) - Comptroller Peter Franchot today announced that he was taking down the draft regulations for the proposed computer services tax and applauded the efforts of everyone who worked diligently to have the tax repealed. An early and consistent supporter of repealing the "tech tax," the Comptroller congratulated the state's computer services industry for organizing an effective advocacy campaign and applauded the Governor and the legislative leaders for taking appropriate action.
Franchot Highlights Productive and Successful 2008 Session
Annapolis, MD (April 8, 2008) - Comptroller Peter Franchot today expressed satisfaction for a very productive and successful 2008 legislative session. Most of the Comptroller's top legislative priorities, including approval and funding for an innovative new tax compliance program, the repeal of the computer services tax, the passing of the Maryland Tax Preparers Act, crucial corporate income tax reform, and legislation providing critical rights to domestic partners all passed through the General Assembly this year. The Comptroller praised the Governor and the General Assembly for their work during the 2008 legislative session, but expressed disappointment that the move to ban electronic gaming devices across the state left a gaping loophole for illicit activity to continue in Baltimore County and Baltimore City.
More than $46 Million Up for Grabs in 2008 Unclaimed Property Supplement
ANNAPOLIS, MD (April 1, 2008)- Comptroller Peter Franchot today announced that his office will issue an 80-page advertising supplement over the next three weeks to find 66,387 recently-identified owners of more than $46 million in unclaimed funds. The supplement will appear in 28 newspapers throughout the state, beginning tomorrow and running through Thursday, April 17.
Comptroller Franchot Announces One Millionth Electronic Filer
ANNAPOLIS, Md. (Monday, March 31, 2008) Comptroller Peter Franchot today announced that his office received its 1 millionth electronically filed personal income tax return this year from a former teacher and Baltimore City resident.
Comptroller Names Top 50 Tax Scofflaws
ANNAPOLIS, MD (March 26, 2008) - Comptroller Peter Franchot today announced the names of 25 businesses and 25 individuals owing more than $6.2 million in unpaid taxes, penalties and interest. His "Caught in the Web" program lists the names of these scofflaws on the agency's Web site, www.marylandtaxes.com.
Comptroller Franchot Tells Last Minute Filers to "Remain Calm," Offers Tips For Easy Filing
Annapolis, MD (March 21, 2008) - Comptroller Peter Franchot reminded taxpayers today about the approaching April 15 tax filing deadline and offered tips for last-minute filers.
Comptroller Agents & ATF Official Confiscate Contraband Cigs on I-495
Annapolis, MD (March 7, 2008) - Agents for Comptroller Peter Franchot, in conjunction with an agent from the Richmond office of the Federal Bureau of Alcohol, Tobacco, and Firearms (ATF), made an arrest yesterday confiscating over 1,600 packs of contraband cigarettes on Interstate 495 in Prince George's County.
Comptroller’s Agents Stop Illegal Fuel Shipment
Annapolis, MD (February 26, 2008) - Comptroller Peter Franchot today announced that agents from his Field Enforcement Division confiscated a 2006 International Tractor and AIM Tanker Trailer along with its contents of 7,500 gallons of ultra low sulfur untaxed highway diesel as it was about to be unloaded at a Washington County trucking company. The vehicle and its contents are valued in excess of $125,000 and would have represented a motor fuel tax loss to the State of Maryland of $1,818.75.
Franchot Wins National Award for Fiscal Excellence and Leadership
Annapolis, MD (February 11, 2008) - In recognition of his work as the fiscal watchdog for the taxpayers of Maryland, cracking down on tax cheats, cigarette smuggles, illegal alcohol and motor fuel sales, closing corporate tax loopholes and launching the first-in-the-nation program to ensure that federal contractors are paying their fair share in state taxes, the Association of Government Accountants (AGA) today announced that Maryland Comptroller Peter Franchot has been chosen as a 2008 William R. Snodgrass Distinguished Leadership award recipient.
Free tax preparation sites open city-wide
Baltimore, MD (February 5, 2008) - Congressman Elijah Cummings, Mayor Sheila Dixon, Comptroller Peter Franchot, and City Council President Stephanie Rawlings-Blake announced the availability of free community tax services for low-income working families in Baltimore at a press conference on February 5, 2008.
Comptroller & Maryland EIC Campaign Celebrate 2nd National Earned Income Tax Credit Day
Annapolis, MD (January 31, 2008) - Participating alongside of federal, state and local organizations from across the country, Maryland Comptroller Peter Franchot and members of the Maryland EIC Campaign today celebrated the second annual "National Earned Income Tax Credit Day" by reiterating their shared goal of raising awareness of this important anti-poverty tool as the 2008 tax filing season begins.
Franchot Cracks Down on Motor Fuel Tax Violators
Annapolis, MD (January 23, 2008) - Reaffirming his commitment to enforce all of Maryland's tax laws to ensure everyone pays their fair share, Comptroller Peter Franchot announced today that agents from his Field Enforcement Division recently investigated and cited seven individuals for fuel tax violations.
Franchot Offers Bleak Assessment of Economy
Bethesda, MD (January 18, 2008) - Emphasizing his independence and prudent fiscal stewardship, Maryland Comptroller Peter Franchot today offered a bleak assessment of the State's economic outlook, urged fiscal restraint and called for the repeal of the recently enacted sales tax on computer services. Fulfilling his constitutional mandate to report to the General Assembly on the financial health of the State, the Comptroller spoke to an audience of Maryland business, civic and political leaders in downtown Bethesda and warned of the negative impact the recently enacted tax package and a shaky economy could have on Maryland's families.
Comptroller Franchot Honors State's Top E-Filers
Annapolis, MD (January 17, 2008) - In an effort to acknowledge Maryland tax preparers who file their clients' income tax returns electronically, Comptroller Peter Franchot today honored 24 tax preparation services that recently implemented the use of e-File for their clients. One tax preparer from each county and Baltimore City, who recently implemented the E-File system when filing tax returns, was selected to receive this award as a result of filing the highest volume of electronic returns for tax year 2006. A total number of 1,383,289 tax returns were filed electronically for tax year 2006, of which 887,827 of them were filed by commercial tax preparers. Overall, there was a 9.71% increase from 2005 to 2006 in electronic filing.
Comptroller's Office and SDAT Inform Ground Rent Owners to Register Properties
Annapolis, MD (January 17, 2008) - Comptroller Peter Franchot's Office, in conjunction with the Maryland State Department of Assessments and Taxation (SDAT), today briefed the House of Delegate's Environmental Matters Committee on their recent efforts to inform Marylanders of the newly implemented statewide Ground Rent Registration System.
Comptroller Franchot Mails 1099G Forms to Taxpayers
Annapolis, MD (January 15, 2008) - Maryland Comptroller Peter Franchot today announced that his office began mailing the 1099G Form to Maryland taxpayers who itemized deductions on their federal income tax return last year and received a refund from the State. From January 14 thru January 31, over 1.4 million 1099G Forms will be disseminated to taxpayers across the state at a rate of approximately 106,500 forms per day.
Comptroller Agents & ATF Officials Confiscate Contraband Cigs on I-95
Annapolis, MD (January 10, 2008) - Agents for Comptroller Peter Franchot, in conjunction with agents of the Federal Bureau of Alcohol, Tobacco, and Firearms (ATF), yesterday made two arrests and confiscated over 13,000 packs of contraband cigarettes on Interstate 95 in Prince George's County.
Franchot Hosts Life Science Summit; Releases Report Showing Maryland is the Nation's Bioscience Leader
Columbia, MD (December 13, 2007)- Declaring that Maryland's future economic success must be tied to the life sciences industry, Comptroller Peter Franchot today joined with leading members of Maryland's research, business, academic, investor and scientific communities at the Maryland Life Science Summit. The Summit, held in Columbia, Maryland and sponsored by the Comptroller's Office, also featured the release of the Maryland Life Science Economic Impact Study which showed beyond a reasonable doubt that Maryland is a national leader in the life sciences and the highlighted the tremendous economic benefits the industry brings to the state. The study also recommended several strategies the state could use to foster further growth in this vital sector.
Comptroller Agents & Police Confiscate Illegal Cigs, Guns & Drugs from Baltimore City Store
Annapolis, MD (November 9, 2007) - Agents for Comptroller Peter Franchot along with members of the Baltimore City Police yesterday confiscated over 8000 packs of cigarettes, a large quantity of marijuana and various firearms from a Baltimore City business.
