Below, is the latest state/local 2011 income tax financial information for Wicomico County that was released yesterday from the State Comptroller's office. What is alarming is the shear number of non-taxable state/local income tax returns. These individuals are exempt because they are not meeting the income filing thresholds.
Notice - that over the course of the past 11 years - (FY 2000 - FY 2011) - the total number of State/local Income tax returns have grown by 5,396. Of that amount - the number of Non-Taxable State/local income tax returns have grown by 3,214. Thus our net state/local income tax paying base has only risen by 2,182 returns - although our population has increased by approximately 14,834 residents.
Bottom line - our local area workforce has dwindled dramatically and not kept pace with the population growth. This has resulted in diminished federal, state, & local income tax revenues, and, a sign of a very weak local economy. Our area needs jobs and lots of them in order to help sustain our community. This is definately not happening.
Take a look at the results another way - Maryland has a filing threshold. Essentially, if a resident falls below a certain income threshold, they are not legally required to file a Maryland return. Some individuals still do file a return, but usually for purposes of claiming a refund on withholding payments or to claim the Earned Income Credit. Over the past fiscal year - (2010 - 2011) - the total number of income tax returns that were filed over this period increased by 380 returns. Of those 380 returns - (reporting income) - 359 of them did not pay any MD state/local income tax. Thus our county only gained revenue ground for 21 returns or realized a net income gain in state & local tax revenue of $23,136 over the past year.
Below is the income tax revenue for Wicomico county for FY 2010 & 2011.
FY 2010 Total State & Local Tax Revenue - $93,759,616
FY 2011 Total State & Local Tax Revenue - $93,782,752
__________
Net Revenue Gain - $23,136
Marylanders are in dire need of jobs - and fast.
Maryland Local Income Tax Returns - Wicomico
County |
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FY |
No.of Income |
No. of Non- |
Population |
Average Tax |
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Tax Returns |
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Tax. Returns |
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State & Local |
2000 |
36,840 |
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6,375 |
84,899 |
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$1,984.14 |
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2001 |
37,144 |
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6,851 |
85,637 |
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$1,954.27 |
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2002 |
37,316 |
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7,151 |
86,679 |
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$1,950.31 |
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2003 |
37,797 |
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7,292 |
88,463 |
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$2,058.52 |
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2004 |
38,781 |
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7,265 |
90,210 |
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$2,316.36 |
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2005 |
40,527 |
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7,441 |
92,508 |
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$2,396.71 |
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2006 |
41,889 |
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7,759 |
94,621 |
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$2,445.84 |
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2007 |
42,889 |
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8,405 |
96,110 |
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$2,495.16 |
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2008 |
42,290 |
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9,054 |
97,111 |
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$2,287.58 |
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2009 |
41,411 |
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9,277 |
98,069 |
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$2,209.82 |
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2010 |
41,856 |
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9,230 |
98,733 |
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$2,240.00 |
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2011 |
42,236 |
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9,589 |
99,733 |
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$2,220.45 |
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Population
data extracted from the Maryland Department of Planning . |
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Source: U.S. Census Bureau, Population Division,
release date: December 6, 2012 |
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Number
of Maryland State Income Tax Returns Filed extracted from State
Comptrollers |
Source: Income Tax Summary
Reports |
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