Daily Record: Md. posts nearly $590M surplus; comptroller urges frugality

State government has a little extra money in its coffers after posting a nearly $590 million surplus for the fiscal year that ended in June. The state’s top tax collector, however, is urging continued frugality, citing a volatile swing in capital gains taxes that outperformed estimates. “The good news is we’ve managed to outperform our modest estimates, but that doesn’t mean the state’s economy is out of the woods yet,” said Comptroller Peter Franchot. “Consumers are still cautious about spending their discretionary dollars, and continued political volatility in Washington is likely to persist. I urge our state’s leaders to regard this year-end boost like an unexpected bonus to be saved

Baltimore Business Journal: Proposed online sales tax regs could mean $50M to $150M windfall for Mar

Online retailers could start paying state sales taxes to Maryland in October if lawmakers approve new regulations proposed by Comptroller Peter Franchot's office. The proposal by the Comptroller's Office comes after the U.S. Supreme Court ruled 5-4 in June to overturn a 1992 ruling that prevented states from imposing sales taxes on online sales and catalog companies that don't have a physical presence in the state where they make a sale. Under the proposed regulations, the state will levy a 6 percent sales and use tax on online retailers who either have sales of at least $100,000 from goods and services delivered in Maryland or at least 200 transactions. If approved by the General Assembly's

Ocean City Today: Trimper’s Rides celebrate 125th anniversary

(Aug. 17, 2018) Trimper’s Rides will commemorate its 125th anniversary with a ribbon-cutting ceremony and park-wide celebration starting at noon today, Friday. Public officials and dignitaries such as Gov. Larry Hogan, Ocean City Mayor Rick Meehan and Comptroller Peter Franchot are scheduled to make an appearance during the ribbon-cutting ceremony, which will take place in front of the carousel in the indoor amusement building on the Boardwalk near the inlet. “We’re looking forward to the governor taking time out of his schedule to come,” Trimper’s Operations Manager Brooks Trimper said. “He honored us a few years ago when we were announced the oldest family-owned amusement park in the count

Star Democrat: Franchot honors Cambridge restaurant owners

CAMBRIDGE — Comptroller Peter Franchot stopped at ThaiTalian Infusion Cuisine in Cambridge Wednesday, Aug. 15, and honored owner Antonio Illiano and his family for their special brand of authentic recipes they bring to Dorchester County. ThaiTalian Infusion Cuisine, 300 Washington Street, opened in October 2016. Illiano was born and raised in Naples, Italy, and moved to Cambridge about a decade ago after working as a chef in New Jersey and New York. The restaurant serves a variety of international-inspired dishes, as well as some local favorites. Want a slice or a whole pizza, ThaiTalian Infusion Cuisine has you covered. The Italian menu features imported pasta sorrento, lasagna classica, ba

Star Democrat: Comptroller visits Preppy Redneck, touts Tax-Free Week

ST. MICHAELS — In promoting Maryland Tax-Free Week, now until Saturday Aug. 18 at midnight, Comptroller of Maryland, Peter Franchot, made visits across the state at stores, including Preppy Redneck on Aug. 15 around 1 p.m. “We’re just delighted to be here,” Franchot said. “Any item of clothing or footwear that costs less than $100 is exempt from the 6 percent sales tax.” The first $40 of any backpack or bookbag purchase is also tax-free. Franchot said a lot more attention and support is due to this 6 percent sales tax savings week. “Without you, we’d just be tumbleweeds running down the street,” Franchot said, laughing. Franchot also mentioned the U.S. Supreme Court’s recent approval to the

WMAL: With Record Gambling Revenue, Maryland Comptroller Still Unconvinced

(BETHESDA, MD — WMAL) Comptroller Peter Franchot, Maryland’s top tax-collector, is no fan of state revenue from gambling and calls it regressive. Maryland received $1.252 billion in state contributions from gambling – up 12.1 percent from last year. The Maryland Lottery reported sales of over $2 Billion and paid out an all-time record of $1.247 billion in prizes. This, however, isn’t enough to convince Franchot, who spoke to WMAL after a “Maryland Tax-Free Week” event in Bethesda, MD. “It’s socially regressive,” Franchot said. “It preys upon people who become addicted and spend inordinate amounts of their income on gambling. It creates a lot of dysfunction in the state.” Maryland Governor La

Fox 45: NY men arrested after 112 cigarette cartons, drugs found during Princess Anne traffic stop

PRINCESS ANNE, MD -- WBFF -- Police say that two New York men were arrested after officers found more than 100 untaxed cartons of cigarettes and other drugs during a traffic stop in Princess Anne, on Saturday. According to authorities, troopers stopped a Honda Accord with New York registration for traffic violations in the area of northbound U.S. Route 13 and Camp Road, in Westover. When troopers met with the passengers identified as 66-year-old Marc Schwarz of Staten Island, and 27-year-old Luke Keough of Brooklyn, a K9 scan was conducted. The scan produced a positive alert and the vehicle was searched. Keough was allegedly found to have had cocaine and other paraphernalia. Schwartz was rep

Eye on Annapolis: Franchot receives honor for financial reporting

A North-American government finance organization has awarded Comptroller Peter Franchot with the Certificate of Achievement for Excellence in Financial Reporting. The Government Finance Officers Association of the United States and Canada (GFOA) honored Comptroller Franchot for Maryland’s fiscal year 2017 Comprehensive Annual Financial Report (CAFR). Received for the last 39 years, the award is the highest form of recognition in the area of governmental accounting and financial reporting. “As Maryland’s chief fiscal officer, I have been been a strong advocate for transparent government and I am proud of what my office and employees have achieved,” Comptroller Franchot said. “My goal is to

Daily Record: Md. comptroller proposes online sales tax rules

Maryland Comptroller Peter Franchot has proposed sales tax rules for online transactions. Some online retailers could soon pay state sales taxes under new regulations proposed by Comptroller Peter Franchot. The new sales tax regulations — less than a full page — would impose a 6 percent sales tax on online retailers who either have a minimum of 200 transactions in Maryland or sales on taxable goods and services in the state exceeding $100,000 annually. The proposed changes follow a June 21 decision by the U.S. Supreme Court that ruled that changes driven by the internet economy created a need for states to be able to capture sales taxes on goods and services sold in each state. The 5-4 rul

Kent County News: Franchot and state retailers association announce tax-free week scholarship contes

ANNAPOLIS — Comptroller Peter Franchot and the Maryland Retailers Association announce a social media contest coinciding with Shop Maryland Tax-Free Week in which two winners will receive $2,500 and $1,000 scholarships, respectively, to any Maryland university, college or trade school. Shop Maryland Tax-Free Week is Sunday, Aug. 12 to 18. In the week leading up to and during Shop Maryland Tax-Free Week, shoppers should take a picture or make a video that incorporates the theme of "Maryland" (the state colors, school apparel, sports team, a crab, etc.), write a creative caption and use #shopmdtaxfree to submit an entry on any or all social media platforms. Platforms include Facebook, Twitter

Prince George’s County Sentinel: Franchot Urges County Residents to Buy Local

COLLEGE PARK – As parents and students prepare to buy supplies before the first day of school, Comptroller Peter Franchot visited three area businesses in College Park on July 30 to promote shopping at smaller, independent stores during Maryland’s upcoming Tax-Free Week. More than seven percent of the state’s 579,173 small businesses work in retail according to the U.S. Small Business Administration. Independent stores compete with online retailers and big-box stores, like Walmart and Target, on a daily basis for customers’ attention. Franchot said he hopes as the annual tax-free season will bring needed revenue to these community establishments. “(Independent stores) give great customer se

Associated Press: Maryland officials criticize upstream states for bay debris

ANNAPOLIS, Md. (AP) — After a week of heavy rain, Maryland Gov. Larry Hogan has a message for states upstream of the Chesapeake Bay: step up and take responsibility for the sediment and debris pouring into the nation's largest estuary. The Republican governor described the situation as "an economic and ecological crisis" in remarks before a state board meeting on Wednesday, where other state officials decried the trees, tires and garbage floating in the bay. Comptroller Peter Franchot, one of three members of the Maryland Board of Public Works, said the debris is creating a safety hazard for watermen and ships bound for the Port of Baltimore. Franchot, a Democrat, called it "an absolute dis

Calvert Recorder: LETTER TO THE EDITOR: Comptroller followed through on promise to serve

On Feb. 21, Maryland Comptroller Peter Franchot (D) presented the William Donald Schaefer Helping People Award to LEAP Forward Inc. for 2017. It was a wonderful occasion enjoyed by board members, community leaders, supporters, sponsors and students. During the program, Comptroller Franchot spoke highly of the great work LEAP Forward performs in support of underrepresented youth. He expressed a desire to help, and in his closing remarks offered the opportunity to provide an internship to a student referred by LEAP Forward. Comptroller Franchot said, “Come by and see me.” Without hesitation, we scheduled a June appointment in Annapolis. During our meeting, we, of course, reminded the comptroll

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