Wicomico Continues to Lose Labor Force Ground

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 FY No.of Income No. of Non- Population Average Tax Tax Returns Tax. Returns State & Local 2000 36,840 6,375 84,899 $1,984.14 2001 37,144 6,851 85,637 $1,954.27 2002 37,316 7,151 86,679 $1,950.31 2003 37,797 7,292 88,463 $2,058.52 2004 38,781 7,265 90,210 $2,316.36 2005 40,527 7,441 92,508 $2,396.71 2006 41,889 7,759 94,621 $2,445.84 2007 42,889 8,405 96,110 $2,495.16 2008 42,290 9,054 97,111 $2,287.58 2009 41,411 9,277 98,069 $2,209.82 2010 41,856 9,230 98,733 $2,240.00 2011 42,236 9,589 99,733 $2,220.45 Population data extracted from the Maryland Department of Planning . Source:  U.S. Census Bureau, Population Division, release date: December 6, 2012 Number of Maryland State Income Tax Returns Filed extracted from State Comptrollers   Source: Income Tax Summary Reports