- Implemented a state-of-the-art data warehouse program which brings in nearly $100 million annually in heretofore uncollectible delinquent taxes. After just the first year of implementation, the warehouse identified and recaptured more than $70 million in delinquent taxes.
- The Comptroller's Office was able to identify 1,666 Marylanders who owed back child support in the Unclaimed Property files and sent $670,000 to the children and families who were owed the money.
- Renewing the emphasis on tax collections, in the last two years, the Comptroller's Office has recaptured more than $356.5 million in delinquent individual income taxes and $473.2 million in delinquent corporate taxes for the state.
- Entered into a first-of-its-kind partnership with the U.S. Department of Treasury that allows Maryland to intercept federal vendor payments to satisfy state income tax liabilities.
- Led the successful effort to disallow the 'captive Real Estate Investment Trusts (REITS) deduction that led to $14.3 million in settlements from two major corporations.
- Aggressively cracked down on Delaware Holding Companies and other tax avoidance strategies, with legal victories in Maryland Tax Court against Talbot's and Nordstrom.
- Led legislative effort to shut down fraudulent and unqualified tax preparers.
- Worked with the General Assembly to pass a corporate reporting law that provides information about the revenue potential of combined reporting.
Partners with law enforcement agencies across the state to investigate and enforce the state's updated video gaming ban and works successfully to keep untaxed cigarettes and illegal wine, distilled liquor and beer off our streets.
Since September, the two agencies have seized a total of 30 video gaming machines and more than $70,000 from eight businesses after observing illegal activity during routine inspections.
Introduced B-file online filing service for Maryland businesses. Along with the flagship I-file program for individual tax payers, Marylanders can file, free of charge, electronically on our website.
Launched online BillPay system which allows taxpayers to pay their income tax bill and, if they so choose, allows them to schedule a payment as late as April 30th.
Pioneered outreach efforts that have led to record numbers of electronically filed returns. In 2008, over 1.5 million returns were filed electronically-- the first time ever that the Office received more electronic than paper returns filed. In 2011 more than 2 million taxpayers took advantage of e-filing.
As a member of the Board of Public Works, Comptroller Franchot has worked with his colleagues to enforce the State's MBE participation goals and support the most efficient use of taxpayer dollars.
As Chairman of the Board of Revenue Estimates, the Comptroller organizes the Economic Advisory Forums. These forums have given the Board a chance to hear from respected CEOs and small business owners about current economic conditions, and to factor those assessments into the State's updated revenue forecasts.
As Vice-Chairman of the State Retirement and Pension Systems, Franchot served as a primary catalyst of a multi-billion asset reallocation that will diversify the System's assets, maximize our long-term returns on investment, and reduce our exposure to risk.
Through our Central Payroll Bureau, Comptroller Franchot helped to negotiate an agreement that will allow State of Maryland employees to contribute to the Maryland College Investment Plan (MCIP) through automatic payroll deductions.