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32
STATE OF MARYLAND
Revenue Estimates and Collections
Fiscal Year Ended June 30, 1988
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GENERAL FUND
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Revenues
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Collected
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SOURCE
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Estimated
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Fiscal Year End
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ed June 30, 1988
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Budget
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Revenues 1988
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Excess or
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Fiscal Year (1)
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Amount
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Deficiency ( )
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PROPERTY TAXES:
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Property Taxes ..............................................
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Property Transfer Taxes ......................................
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$ 48,093,000
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$ 48,698,484
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$ 605,484
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FRANCHISE AND CORPORATION TAXES:
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Franchise Tax on Federal, Domestic and Foreign
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Building, Savings and Loan Associations ......................
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2,725,580
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2,367,221
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(358,359)
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Franchise Tax on Gross Receipts ..............................
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97,300,000
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95,721,216
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(1,578,784)
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Franchise Tax on Net Earnings of Savings Banks,
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Building, Savings and Loan Associations .......................
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107,000
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27,420
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(79,580)
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Organization and Capitalization Fee ............................
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550,000
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490,945
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(59,055)
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Franchise Tax on Net Earnings of Financial
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Institutions ...............................................
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25,800,000
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40,890,701
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15,090,701
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Recording Fees - Foreign ....................................
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215,000
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229,122
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14,122
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Recording Fees - Domestic ....................................
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1,875,000
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1,866,202
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(8,798)
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Foreign Corporation Filing Fees ..............................
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529,000
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612,245
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83,245
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Maryland Corporation Filing Fees ..............................
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1,450,000
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1,637,783
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187,783
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Interest and Penalty ..........................................
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85,086
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48,937
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(36,149)
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DEATH TAXES:
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Collateral Inheritance Tax .....................................
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29,359,000
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28,627,708
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(731,292)
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Direct Inheritance Tax ........................................
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8,841,000
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11,512,629
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2,671,629
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Interest and Penalty on Inheritance Taxes .......................
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21,531
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17,898
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(3,633)
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Tax on Commissions of Executors and Administrators .............
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3,418,000
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3,714,510
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296,510
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Maryland Estate Tax .........................................
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10,648,000
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17,244,817
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6,596,817
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Interest on Maryland Estate Tax ...............................
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444,754
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609,356
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164,602
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ALCOHOLIC BEVERAGE TAXES AND LICENSES:
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Tax on Liquor ...............................................
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9,550,000
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8,943,327
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(606,673)
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Tax on Wine ................................................
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4,400,000
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4,275,837
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(124,163)
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Tax on Beer .................................................
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5,100,000
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4,537,130
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(562,870)
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Alcoholic Beverage Licenses ...................................
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355,000
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352,731
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(2,269)
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ADMISSIONS TAX ............................................
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MOTOR VEHICLE FUEL TAXES AND LICENSES ...............
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9,898,000
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9,827,193
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(70,807)
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INCOME TAXES:
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Corporation Income Taxes .....................................
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152,730,000
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139,757,145
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(12,972,855)
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Individual Income Taxes ......................................
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2,348,301,000
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2,426,645,282
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78,344,282
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RETAIL SALES AND USE TAX AND LICENSES ................
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1,408,922,000
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1,423,668,639
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14,746,639
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STATE TOBACCO TAX AND LICENSES ........................
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51,000,000
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50,830,805
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(169,195)
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MOTOR VEHICLE TAX AND LICENSES:
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Motor Vehicle Titling Tax .....................................
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Motor Vehicle Registration ....................................
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850,000
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881,928
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31,928
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INSURANCE COMPANY TAXES, LICENSES AND FEES ........
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125,380,000
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132,001,121
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6,621,121
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HORSE RACE TAXES AND LICENSES .........................
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1,590,000
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2,150,178
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560,178
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DISTRICT COURT FEES AND COSTS ..........................
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44,500,000
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48,198,954
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3,698,954
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INTEREST ON INVESTMENTS ................................
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45,000,000
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55,381,424
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10,381,424
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