ANNAPOLIS, Md. (WDVM) — While federal returns were due on April 18, Marylanders who owe have 3 more months to file their state taxes.
The deadline for state individual income tax returns for the third consecutive year has been delayed until July 15th. Comptroller Peter Franchot says this is to provide a break to residents who have suffered from the economic consequences of the pandemic.
“This is a well-trodden path, it’s well-proven, and it works perfectly,” said Franchot. “Each year we get about 600,000 people showing up on July 15th to pay their tax for the previous year and there’s a big surge in our anticipated revenues. I think my experts say because they’re able to get out of the winter season and stabilize their revenues as we head into the summer season.”
Franchot says Maryland is the only state in the country to extend the state filing and payment deadlines for 90 days. Already this year Franchot’s agency staff has processed more than 2 million returns and taxpayers are getting their refunds within 2 and a half business days.
This extension prevents about 600 thousand Maryland families from needing to request an extension, but Franchot says their office is always a call away and the state also offers payment plans and resources for those struggling.
Franchot, a democratic candidate for Governor, still suggests residents who expect a refund to file as soon as possible. Filing electronically and using direct deposit will give the fastest processing.